Ceragon Networks (NASDAQ:CRNT – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $3.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.58% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a report on Tuesday. Weiss Ratings downgraded Ceragon Networks from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, April 20th. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Lake Street Capital started coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price target on the stock. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ceragon Networks presently has a consensus rating of “Hold” and a consensus target price of $3.67.
View Our Latest Research Report on CRNT
Ceragon Networks Stock Performance
Ceragon Networks (NASDAQ:CRNT – Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The communications equipment provider reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $85.00 million for the quarter, compared to the consensus estimate of $80.36 million. Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%. Sell-side analysts predict that Ceragon Networks will post 0.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CRNT. CSM Advisors LLC bought a new position in shares of Ceragon Networks in the third quarter worth $4,819,000. Essex Investment Management Co. LLC increased its position in shares of Ceragon Networks by 36.9% in the third quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after purchasing an additional 382,058 shares during the period. Verition Fund Management LLC bought a new position in shares of Ceragon Networks in the fourth quarter worth $64,000. HRT Financial LP increased its position in shares of Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Ceragon Networks by 49.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 5,211 shares during the period. Institutional investors own 13.31% of the company’s stock.
About Ceragon Networks
Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.
The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.
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