Ceragon Networks (CRNT) PT Set at $5.00 by Oppenheimer

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Ceragon Networks (NASDAQ:CRNT) has been assigned a $5.00 target price by equities researchers at Oppenheimer in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Oppenheimer’s price target points to a potential upside of 27.23% from the stock’s current price.

Several other analysts have also commented on the stock. Citigroup upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating and set a $4.50 price target on the stock in a research report on Friday, September 28th. UBS Group upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, September 28th. Zacks Investment Research upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. BidaskClub lowered shares of Ceragon Networks from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Finally, CIBC upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $4.23.

CRNT stock opened at $3.93 on Monday. The firm has a market cap of $270.36 million, a P/E ratio of 19.22, a PEG ratio of 1.28 and a beta of 0.73. Ceragon Networks has a one year low of $1.64 and a one year high of $4.15.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, November 5th. The communications equipment provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $86.53 million for the quarter, compared to analyst estimates of $82.59 million. Ceragon Networks had a net margin of 4.79% and a return on equity of 10.61%. Equities analysts expect that Ceragon Networks will post 0.18 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. Millennium Management LLC lifted its holdings in Ceragon Networks by 3,318.8% during the first quarter. Millennium Management LLC now owns 992,076 shares of the communications equipment provider’s stock valued at $2,669,000 after purchasing an additional 963,058 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Ceragon Networks by 40.5% during the second quarter. Acadian Asset Management LLC now owns 3,061,120 shares of the communications equipment provider’s stock valued at $10,930,000 after purchasing an additional 882,437 shares in the last quarter. Putnam Investments LLC purchased a new position in Ceragon Networks during the second quarter valued at $1,424,000. Renaissance Technologies LLC lifted its holdings in Ceragon Networks by 13.8% during the second quarter. Renaissance Technologies LLC now owns 2,696,700 shares of the communications equipment provider’s stock valued at $9,627,000 after purchasing an additional 327,900 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ceragon Networks by 57.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 600,000 shares of the communications equipment provider’s stock valued at $2,022,000 after purchasing an additional 220,000 shares in the last quarter. 22.78% of the stock is currently owned by institutional investors and hedge funds.

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 radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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