Is Ribbon Communications (RBBN) One of the Best Technology Penny Stocks to Buy?

Ribbon Communications Inc. (NASDAQ:RBBN) is one of the 15 Best Technology Penny Stocks to Buy. On November 17, Citizens reaffirmed its Market Outperform rating for Ribbon Communications Inc. (NASDAQ:RBBN). The research firm has a price target of $6 on the stock.

The firm’s analysts pointed out several strong reasons for this positive outlook. Citizens noted that Ribbon Communications Inc. (NASDAQ:RBBN) offers a suite of products that is in a good position to benefit from the global rollout of 5G technology. The growth of generative AI is also expected to increase network traffic, which should support the demand for the company’s services.

Additionally, the US government’s incentives to modernize networks are expected to support Ribbon Communications Inc.’s (NASDAQ:RBBN) future growth. Citizens highlighted the company’s profitable Cloud and Edge business, which serves as a strong foundation for the company to expand. Ribbon Communications Inc. (NASDAQ:RBBN) has a large market opportunity, with more than $10 billion in serviceable addressable market. This shows that the company has a lot of room for growth.

The research firm also mentioned that Ribbon Communications Inc. (NASDAQ:RBBN) has a strong presence in international markets, and this is seen as a positive factor for investors.

Citizens also identified the shift away from legacy copper networks and the ongoing adoption of cloud technologies as positive factors that support the investment thesis for Ribbon Communications Inc. (NASDAQ:RBBN).

Ribbon Communications Inc. (NASDAQ:RBBN) is a technology company that provides communications software, IP, and optical networking solutions to service providers, enterprises, and critical infrastructure sectors.

While we acknowledge the potential of RBBN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.