Ceragon Networks Ltd. (NASDAQ:CRNT) Stock Has Average Price Target of $3.88

Key Points

• Analyst sentiment is moderately positive: Four of six covering firms rate Ceragon Networks a buy, with one hold and one sell; the average 12-month price target is $3.88.
• Recent rating changes were mixed: Needham raised its target to $3.50 and maintained a buy rating, while other firms adjusted their ratings in both positive and negative directions.
• Quarterly results topped estimates: Ceragon reported EPS of $0.07 versus forecasts of $0.04 and revenue of $95.52 million versus estimates of $94.40 million.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.88.

CRNT has been the topic of several recent research reports. Zacks Research raised shares of Ceragon Networks from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Ceragon Networks from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Needham & Company LLC raised their target price on shares of Ceragon Networks from $3.00 to $3.50 and gave the stock a "buy" rating in a report on Thursday, November 5th. Finally, Weiss Ratings lowered shares of Ceragon Networks from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 19th.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently modified their holdings of the stock. Spark Investment Management LLC acquired a new stake in shares of Ceragon Networks during the second quarter worth $27,000. Seven Mile Advisory acquired a new stake in Ceragon Networks during the 3rd quarter worth about $90,000. AXQ Capital LP raised its holdings in Ceragon Networks by 66.3% during the 2nd quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider's stock worth $126,000 after buying an additional 19,404 shares during the period. R Squared Ltd lifted its stake in Ceragon Networks by 10.9% during the third quarter. R Squared Ltd now owns 63,465 shares of the communications equipment provider's stock valued at $131,000 after buying an additional 6,256 shares in the last quarter. Finally, Aristides Capital LLC lifted its stake in Ceragon Networks by 15.5% during the first quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider's stock valued at $352,000 after buying an additional 21,833 shares in the last quarter. 13.31% of the stock is owned by institutional investors.

Ceragon Networks Stock Performance

Shares of CRNT stock opened at $2.52 on Wednesday. Ceragon Networks has a 1 year low of $1.85 and a 1 year high of $3.29. The business's fifty day moving average is $2.10 and its 200-day moving average is $2.32. The stock has a market cap of $229.04 million, a PE ratio of 23.82 and a beta of 1.36.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Ceragon Networks had a positive return on equity of 5.32% and a negative net margin of 0.26%. The business had revenue of $95.52 million during the quarter, compared to analyst estimates of $94.40 million. Equities research analysts predict that Ceragon Networks will post 0.11 earnings per share for the current year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. NASDAQ: CRNT is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that help communications service providers connect mobile networks, broadband infrastructure and other distributed sites without relying solely on fiber-optic connections. Its product portfolio includes microwave and millimeter-wave radio systems, packet microwave solutions, antennas, network management software and related services.

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