Why Ribbon Communications Stock Is Soaring Today
Shares of Ribbon Communications (NASDAQ: RBBN) skyrocketed on Wednesday. The single-day gains peaked at 32.7% in the early afternoon before settling down to a still-impressive 28% price increase at 2:30 p.m. ET today.
The provider of hardware and software solutions for secure communication networks reported modest earnings on Tuesday evening, but also unveiled an impressive contract with Verizon Communications (NYSE: VZ) amid generally improving market trends.
Ribbon's results fell short of analyst expectations in the first quarter of 2024. Yes, that's an unusual setup for a huge stock-price jump.
Source Fool.com
Verizon Communications Inc. Stock
€36.45
0.930%
With 22 Buy predictions and 1 Sell predictions Verizon Communications Inc. is one of the favorites of our community.
As a result the target price of 40 € shows a slightly positive potential of 9.74% compared to the current price of 36.45 € for Verizon Communications Inc..
