Jefferies Maintains Ceragon Networks Ltd to Hold with Price Target $2.00

Brokerage firm Jefferies Maintains its rating on Ceragon Networks Ltd(NASDAQ:CRNT). In a research note issued to the investors, the brokerage major Raises the price-target to $2.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Aug 9, 2016.

Ceragon Networks Ltd (CRNT) shares turned negative on Wednesdays trading session with the shares closing down -0.09 points or -3.72% at a volume of 3,93,659. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.38. The peak price level was also seen at $2.38 while the days lowest was $2.32. Finally the shares closed at $2.33. The 52-week high of the shares is $2.48 while the 52-week low is $0.8852. According to the latest information available, the market cap of the company is $181 M.

Ceragon Networks Ltd(CRNT) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $70.01M. Analysts had an estimated revenue of $67.59M. Earnings per share were $0.02.

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.

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