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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.

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