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

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $3.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 28.21% from the stock’s current price.

A number of other analysts have also recently weighed in on CRNT. Roth Capital lowered their price target on shares of Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ceragon Networks in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ceragon Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Ceragon Networks Trading Up 2.6%

Shares of NASDAQ:CRNT opened at $2.34 on Wednesday. The company has a market capitalization of $208.10 million, a PE ratio of 14.63 and a beta of 1.13. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $5.73. The business’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.30.

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

Institutional Trading of Ceragon Networks

Large investors have recently bought and sold shares of the stock. Axis Wealth Partners LLC acquired a new position in Ceragon Networks during the 2nd quarter valued at approximately $26,000. BNP Paribas Financial Markets acquired a new stake in shares of Ceragon Networks during the second quarter worth $26,000. Jones Financial Companies Lllp grew its holdings in shares of Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after buying an additional 8,500 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Ceragon Networks in the 2nd quarter valued at $35,000. Finally, Worth Venture Partners LLC acquired a new position in shares of Ceragon Networks in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

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.