In a report released today, George Iwanyc from Oppenheimer maintained a Hold rating on Ceragon Networks (NASDAQ: CRNT). The company’s shares opened today at $2.80.
Iwanyc said:
“Ceragon reported a better than expected 1Q18 ($83.3M/$0.04) driven by a strong India contribution. Overall execution also remains solid, India’s full-year 2018 outlook is better than expected, and trends in other regions are holding largely as expected or better. While the pending Sprint/T-Mobile merger adds some uncertainty in North America, expectations were already conservative and some of the potential near- term downside could be offset by gains in other areas (public safety, defense, etc.). Ceragon’s also effectively managing component tightness. Maintain Perform, but with a continued positive 2018 bias as we see better potential for long-term upside from share gains (reflecting technology leadership and best-of-breed sales focus), support from 4G (1Gbps) and longer-term 5G demand, and less concern of a significant YoY drop of in India in 2018.”
According to TipRanks.com, Iwanyc is ranked #2299 out of 4778 analysts.
Ceragon Networks has an analyst consensus of Hold.
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Based on Ceragon Networks’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $7.21 million. In comparison, last year the company had a GAAP net loss of $128K.
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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.
