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

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

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

Ceragon Networks Trading Up 2.6%

CRNT opened at $2.34 on Wednesday. Ceragon Networks has a 12-month low of $1.82 and a 12-month high of $5.73. The firm has a 50 day moving average of $2.35 and a two-hundred day moving average of $2.30. The firm has a market capitalization of $208.10 million, a PE ratio of 14.63 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 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Ceragon Networks had a net margin of 3.57% and a return on equity of 13.71%. The business had revenue of $85.48 million during the quarter, compared to analysts’ expectations of $83.48 million. Ceragon Networks has set its FY 2025 guidance at EPS. As a group, analysts predict that Ceragon Networks will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. KLCM Advisors Inc. purchased a new position in shares of Ceragon Networks in the 1st quarter valued at about $1,871,000. First Wilshire Securities Management Inc. grew its holdings in Ceragon Networks by 23.6% in the second quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock valued at $9,985,000 after purchasing an additional 775,782 shares during the period. Squarepoint Ops LLC grew its holdings in Ceragon Networks by 642.7% in the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock valued at $1,360,000 after purchasing an additional 478,489 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks in the first quarter valued at approximately $983,000. Finally, Essex Investment Management Co. LLC raised its stake in shares of Ceragon Networks by 36.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after buying an additional 382,058 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.