Ceragon Networks Given New $2.70 Price Target at Jefferies Group (CRNT)
Jefferies Group lowered their target price on shares of Ceragon Networks (NASDAQ:CRNT) from $3.40 to $2.70 in a research note issued on Friday, ARN reports. Jefferies Group’s price objective suggests a potential upside of 16.88% from the company’s current price.
Ceragon Networks (NASDAQ:CRNT) opened at 2.31 on Friday. Ceragon Networks has a one year low of $2.13 and a one year high of $4.38. The stock’s 50-day moving average is $2.79 and its 200-day moving average is $3.01. The company’s market cap is $121.2 million.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.09. The company had revenue of $70.50 million for the quarter, compared to the consensus estimate of $71.80 million. During the same quarter last year, the company posted ($0.16) earnings per share. Ceragon Networks’s revenue was down 21.8% compared to the same quarter last year. Analysts expect that Ceragon Networks will post $-0.08 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Ceragon Networks in a research note on Friday. They now have a $2.50 price target on the stock, down previously from $3.00. Three investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $4.26.
Ceragon Networks Ltd. is a provider of wireless backhaul solutions, which enables cellular operators and other wireless service providers to deliver voice and data services, such as Internet browsing, music and video applications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.