Zacks Investment Research upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a sell rating to a buy rating in a research note issued to investors on Monday, Zacks.com reports. Zacks Investment Research currently has $3.00 target price on the communications equipment provider’s stock.
According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “
A number of other analysts have also recently weighed in on CRNT. BidaskClub upgraded ZIX from a buy rating to a strong-buy rating in a research note on Friday, May 3rd. TheStreet cut USD Partners from a b- rating to a c+ rating in a research note on Friday, May 10th. ValuEngine upgraded Zuora from a hold rating to a buy rating in a research note on Saturday, July 6th. Finally, Oppenheimer set a $32.00 price target on Iovance Biotherapeutics and gave the company a buy rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Ceragon Networks has a consensus rating of Hold and a consensus target price of $3.83.
Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $73.74 million. As a group, equities analysts predict that Ceragon Networks will post 0.22 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Delek Group Ltd. bought a new position in shares of Ceragon Networks during the first quarter worth about $186,000. AJO LP raised its stake in Ceragon Networks by 2.0% during the first quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock worth $2,491,000 after acquiring an additional 13,282 shares during the period. Acadian Asset Management LLC raised its stake in Ceragon Networks by 2.3% during the first quarter. Acadian Asset Management LLC now owns 3,191,940 shares of the communications equipment provider’s stock worth $11,460,000 after acquiring an additional 71,937 shares during the period. Penserra Capital Management LLC acquired a new stake in Ceragon Networks during the first quarter worth about $61,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ceragon Networks by 32.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,040 shares of the communications equipment provider’s stock worth $370,000 after acquiring an additional 24,951 shares during the period. Institutional investors and hedge funds own 20.83% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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