Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $5.50 Consensus Price Target from Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.50.

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Ceragon Networks in a research note on Wednesday, October 8th. Finally, Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independent Advisor Alliance purchased a new position in shares of Ceragon Networks in the 1st quarter worth approximately $216,000. Russell Investments Group Ltd. lifted its holdings in Ceragon Networks by 25.7% during the first quarter. Russell Investments Group Ltd. now owns 141,589 shares of the communications equipment provider’s stock worth $333,000 after acquiring an additional 28,920 shares during the period. KLCM Advisors Inc. purchased a new position in Ceragon Networks in the first quarter worth $1,871,000. Quantbot Technologies LP purchased a new position in Ceragon Networks in the first quarter worth $90,000. Finally, First Wilshire Securities Management Inc. grew its stake in Ceragon Networks by 11.4% in the 1st quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock valued at $7,715,000 after purchasing an additional 336,646 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Up 1.5%

Shares of CRNT opened at $2.00 on Tuesday. The business’s fifty day moving average is $2.36 and its 200 day moving average is $2.29. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $5.73. The stock has a market cap of $177.86 million, a P/E ratio of 12.50 and a beta of 1.13.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Tuesday, November 11th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a return on equity of 13.71% and a net margin of 3.57%.The business had revenue of $85.48 million for the quarter, compared to analyst estimates of $83.48 million. Ceragon Networks has set its FY 2025 guidance at EPS. On average, analysts expect that Ceragon Networks will post 0.26 EPS for the current year.

Ceragon Networks Company Profile

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.