Analysts Set Ceragon Networks Ltd. (NASDAQ:CRNT) Price Target at $5.50

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.50.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRNT. First Eagle Investment Management LLC boosted its position in shares of Ceragon Networks by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock valued at $1,454,000 after buying an additional 139,528 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks during the 1st quarter valued at about $983,000. State of Wyoming purchased a new stake in shares of Ceragon Networks during the 1st quarter valued at about $58,000. First Wilshire Securities Management Inc. grew its stake in shares of Ceragon Networks by 11.4% in the first quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock worth $7,715,000 after acquiring an additional 336,646 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Ceragon Networks during the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

CRNT stock opened at $1.97 on Tuesday. The firm has a 50 day moving average price of $2.36 and a 200-day moving average price of $2.29. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $5.73. The firm has a market capitalization of $175.19 million, a price-to-earnings ratio of 12.31 and a beta of 1.13.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results 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). The company had revenue of $85.48 million during the quarter, compared to analysts’ expectations of $83.48 million. Ceragon Networks had a return on equity of 13.71% and a net margin of 3.57%. Ceragon Networks has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Ceragon Networks will post 0.26 earnings per share for the current fiscal 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.