Ceragon Networks Ltd (CRNT) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 2.50 from a previous price target of $2 . Needham advised their investors in a research report released on Jul 18, 2016.
On the company’s financial health, Ceragon Networks Ltd reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.02. The company had revenue of $59.80 million for the quarter, compared to analysts expectations of $63.55 million. The company’s revenue was down -36.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.
Ceragon Networks Ltd closed down -0.07 points or -3.29% at $2.06 with 8,21,091 shares getting traded on Friday. Post opening the session at $2.15, the shares hit an intraday low of $2.05 and an intraday high of $2.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services enabling smart-phone applications such as Internet browsing social networking applications image sharing music and video applications. The Company also provides its solutions for hauling application in other vertical markets like public safety and oil and gas offshore drilling platforms. Its wireless backhaul solutions use microwave radio technology to transfer large amounts of telecommunication traffic between base stations and small-cells and the core of the service provider’s network. It also provides wireless fronthaul solutions that use microwave technology. In addition to providing its solutions the Company also offers its customers a set of turn-key services including advanced network and radio planning site survey solutions development installation maintenance training and more.