Ceragon Networks (NASDAQ:CRNT) Receives “Buy” Rating from Needham & Company LLC

Ceragon Networks (NASDAQ:CRNTGet Free Report)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $5.25 price objective on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 84.86% from the company’s previous close.

Separately, StockNews.com lowered shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 2nd.

View Our Latest Report on Ceragon Networks

Ceragon Networks Stock Up 2.5 %

Shares of CRNT stock opened at $2.84 on Tuesday. Ceragon Networks has a 12-month low of $1.56 and a 12-month high of $3.38. The firm has a market capitalization of $242.59 million, a price-to-earnings ratio of 40.58 and a beta of 1.50. The firm has a fifty day moving average of $2.98 and a 200-day moving average of $2.46.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Ceragon Networks had a net margin of 1.79% and a return on equity of 9.95%. The company had revenue of $90.36 million during the quarter. During the same period last year, the firm earned ($0.01) EPS. Research analysts expect that Ceragon Networks will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRNT. Eagle Wealth Strategies LLC bought a new stake in shares of Ceragon Networks in the 1st quarter valued at about $31,000. Worth Venture Partners LLC raised its holdings in shares of Ceragon Networks by 13.3% in the 3rd quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 8,700 shares during the period. Perritt Capital Management Inc. raised its holdings in Ceragon Networks by 14.9% in the 3rd quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock valued at $418,000 after acquiring an additional 26,500 shares during the period. Inspire Investing LLC bought a new position in Ceragon Networks in the 1st quarter valued at about $884,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ceragon Networks during the 3rd quarter worth approximately $1,291,000. 13.31% of the stock is owned by institutional investors.

Ceragon Networks Company Profile

(Get Free Report)

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.

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