Cambium Networks (NASDAQ:CMBM) Given New $23.00 Price Target at Oppenheimer

Cambium Networks (NASDAQ:CMBMGet Rating) had its target price dropped by analysts at Oppenheimer from $28.00 to $23.00 in a research note issued on Friday, The Fly reports. Oppenheimer’s price target suggests a potential upside of 42.41% from the stock’s previous close.

Several other research firms also recently commented on CMBM. The Goldman Sachs Group lowered their target price on shares of Cambium Networks from $47.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Jefferies Financial Group downgraded shares of Cambium Networks from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $25.00 in a research note on Friday, March 4th. TheStreet downgraded shares of Cambium Networks from a “c” rating to a “d+” rating in a research note on Friday, February 18th. JMP Securities decreased their price target on shares of Cambium Networks from $60.00 to $45.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 14th. Finally, Barrington Research downgraded shares of Cambium Networks from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $36.90.

CMBM stock opened at $16.15 on Friday. Cambium Networks has a one year low of $14.81 and a one year high of $61.41. The company’s fifty day moving average price is $21.22 and its 200-day moving average price is $24.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.20. The company has a market capitalization of $433.30 million, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68.

Cambium Networks (NASDAQ:CMBMGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Cambium Networks had a return on equity of 38.12% and a net margin of 11.14%. The company had revenue of $61.90 million during the quarter, compared to analysts’ expectations of $62.42 million. During the same period last year, the firm posted $0.70 EPS. Cambium Networks’s quarterly revenue was down 30.1% compared to the same quarter last year. On average, research analysts predict that Cambium Networks will post 0.4 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CMBM. Morgan Stanley increased its position in Cambium Networks by 428.8% during the second quarter. Morgan Stanley now owns 221,925 shares of the company’s stock valued at $10,730,000 after acquiring an additional 179,954 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Cambium Networks in the third quarter worth about $141,000. Victory Capital Management Inc. grew its holdings in shares of Cambium Networks by 91.6% in the third quarter. Victory Capital Management Inc. now owns 21,967 shares of the company’s stock worth $795,000 after purchasing an additional 10,501 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Cambium Networks by 2.5% in the third quarter. New York State Common Retirement Fund now owns 51,217 shares of the company’s stock worth $1,854,000 after purchasing an additional 1,261 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Cambium Networks in the third quarter worth about $212,000. Institutional investors and hedge funds own 88.03% of the company’s stock.

Cambium Networks Company Profile (Get Rating)

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.

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