The stock of Ceragon Networks Ltd (NASDAQ:CRNT) is a huge mover today! About 684,502 shares traded hands or 27.28% up from the average. Ceragon Networks Ltd (NASDAQ:CRNT) has risen 98.26% since March 7, 2016 and is uptrending. It has outperformed by 90.67% the S&P500.
The move comes after 9 months negative chart setup for the $166.17M company. It was reported on Oct, 10 by Barchart.com. We have $1.92 PT which if reached, will make NASDAQ:CRNT worth $19.94M less.
Analysts await Ceragon Networks Ltd (NASDAQ:CRNT) to report earnings on November, 7. They expect $0.03 earnings per share, down 25.00% or $0.01 from last year’s $0.04 per share. CRNT’s profit will be $2.29M for 18.17 P/E if the $0.03 EPS becomes a reality. After $0.02 actual earnings per share reported by Ceragon Networks Ltd for the previous quarter, Wall Street now forecasts 50.00% EPS growth.
Ceragon Networks Ltd (NASDAQ:CRNT) Ratings Coverage
Out of 2 analysts covering Ceragon (NASDAQ:CRNT), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Ceragon has been the topic of 4 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was maintained by Needham on Friday, August 14 with “Buy”. The stock of Ceragon Networks Ltd (NASDAQ:CRNT) has “Hold” rating given on Friday, August 14 by Jefferies. The rating was maintained by Jefferies with “Hold” on Tuesday, August 9.
According to Zacks Investment Research, “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.”
More news for Ceragon Networks Ltd (NASDAQ:CRNT) were recently published by: Twst.com, which released: “Ceragon Networks Ltd.: CERAGON NETWORKS® THIRD QUARTER 2016 FINANCIAL RESULTS …” on October 06, 2016. Seekingalpha.com‘s article titled: “Ceragon Networks’ (CRNT) CEO, Ira Palti on Q2 2016 Results – Earnings Call …” and published on August 08, 2016 is yet another important article.
CRNT Company Profile
Ceragon Networks Ltd. (Ceragon), incorporated on July 23, 1996, is a wireless backhaul specialist company. The Firm is engaged in the unit shipments and global distribution of its business, providing wireless backhaul solutions to global wireless backhaul markets. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice, data and other multimedia services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications. The Firm also provides solutions for hauling application in other vertical markets, such as public safety, utilities, and gas and oil offshore drilling platforms. The Company’s wireless backhaul solutions use microwave and millimeter-wave radio technologies to transfer large amounts of telecommunication traffic between wireless fourth generation (4G), third generation (3G) and other cellular base station technologies, and the core of the service provider’s network. In addition to providing its solutions, the Company offers its clients a set of services, including advanced network and radio planning, site survey, solutions development, installation, maintenance and training. The Company’s services include utilization of project management tools in order to streamline deployments of wireless networks.
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