Analysts Set Ceragon Networks Ltd. (NASDAQ:CRNT) Price Target at $6.38

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has received an average recommendation of "Buy" from the five analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.38.

A number of research analysts have commented on CRNT shares. Craig Hallum initiated coverage on Ceragon Networks in a research report on Thursday, March 13th. They set a "buy" rating and a $5.00 price target for the company. StockNews.com upgraded Ceragon Networks from a "hold" rating to a "buy" rating in a report on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. Penn Capital Management Company LLC acquired a new position in shares of Ceragon Networks during the 4th quarter worth approximately $54,000. Commonwealth Equity Services LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth about $58,000. Bravias Capital Group LLC acquired a new stake in Ceragon Networks during the 4th quarter worth approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Ceragon Networks in the fourth quarter valued at $81,000. Finally, Perigon Wealth Management LLC acquired a new position in Ceragon Networks in the 4th quarter valued at about $90,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Price Performance

Shares of Ceragon Networks stock traded down $0.15 on Friday, hitting $2.12. 863,631 shares of the company's stock traded hands, compared to its average volume of 1,747,777. The company has a market capitalization of $188.09 million, a price-to-earnings ratio of 7.83 and a beta of 1.04. Ceragon Networks has a one year low of $1.95 and a one year high of $5.73. The company has a fifty day moving average of $2.33 and a two-hundred day moving average of $3.38.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. Equities research analysts anticipate that Ceragon Networks will post 0.26 earnings per share for the current year.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.