Zacks Investment Research upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a sell rating to a buy rating in a research note published on Monday morning, Zacks.com reports. The brokerage currently has $3.00 target price on the communications equipment provider’s stock.

According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “

Several other brokerages also recently commented on CRNT. ValuEngine raised Zuora from a hold rating to a buy rating in a research note on Saturday, July 6th. Oppenheimer set a $32.00 target price on Iovance Biotherapeutics and gave the company a buy rating in a report on Wednesday, July 3rd. BidaskClub raised ZIX from a buy rating to a strong-buy rating in a report on Friday, May 3rd. Finally, TheStreet lowered USD Partners from a b- rating to a c+ rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Ceragon Networks currently has a consensus rating of Hold and a consensus target price of $3.83.

Shares of Ceragon Networks stock opened at $2.56 on Monday. The stock has a market capitalization of $213.98 million, a P/E ratio of 12.80, a PEG ratio of 0.78 and a beta of 1.28. Ceragon Networks has a 52 week low of $2.52 and a 52 week high of $5.04. The business has a 50 day moving average of $2.84.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $73.74 million. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. On average, equities analysts forecast that Ceragon Networks will post 0.22 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CRNT. BlackRock Inc. boosted its holdings in Ceragon Networks by 34.4% in the fourth quarter. BlackRock Inc. now owns 130,328 shares of the communications equipment provider’s stock worth $493,000 after purchasing an additional 33,344 shares during the period. GSA Capital Partners LLP boosted its holdings in Ceragon Networks by 12.4% in the fourth quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock worth $510,000 after purchasing an additional 14,900 shares during the period. Menta Capital LLC boosted its holdings in Ceragon Networks by 24.5% in the fourth quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock worth $1,199,000 after purchasing an additional 62,467 shares during the period. Two Sigma Investments LP boosted its holdings in Ceragon Networks by 168.0% in the fourth quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock worth $2,348,000 after purchasing an additional 389,309 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Ceragon Networks by 50.9% in the fourth quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock worth $1,715,000 after purchasing an additional 153,100 shares during the period. 20.83% of the stock is owned by institutional investors.

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

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