Oppenheimer analyst George Iwanyc maintained a Hold rating on Ceragon Networks (NASDAQ: CRNT) today. The company’s shares closed yesterday at $3.62.
Iwanyc wrote:
“Ceragon reported a better than expected 2Q18 ($88.3M/$0.05) lifted by continued strong demand in India and generally steady trends in most other regions. Positively, pi peline visibility is extending into 2019 with Ceragon comfortable the strong India demand is sustainable well into next year. We also highlight that the US is a positive wild card to watch as Sprint/T-Mobile are both Ceragon customers, but not currently big contributors (note merger/timing uncertainties). Operational execution was also strong with Ceragon effectively managing through component tightness to deliver better-than-expected margins. We remain positive on the company’s overall positioning and continue to see potential for long-term upside from share gains driven by Ceragon’s multi-core capabilities, all-outdoor leadership, and best-of-breed positioning with 4G (1Gbps) and 5G.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 16.9% and a 80.0% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, NetApp, and Allot.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ceragon Networks with a $4.40 average price target.
See today’s analyst top recommended stocks >>
Ceragon Networks’ market cap is currently $282.8M and has a P/E ratio of 16.45. The company has a Price to Book ratio of 2.08.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ceragon Networks Ltd. engages in the provision of wireless backhaul solutions. Its products include radio units, management systems, small cell hauling, packet and hybrid microwave, and long haul solutions. The company renders transmission capacity to mobile and fixed-line carriers, and private network operators.
