Cambium Networks Corp. (CMBM) PT Raised to $52 at Jefferies After EPS Beats by 41%
- World stocks edge back, bond yields, COVID-19 cases rise
- Canadian National (CNI) Plans to Make $30B Topping Bid for Kansas City Southern (KSU) - DJ
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Tesla's (TSLA) Musk says data logs from crashed vehicle show Autopilot was not enabled, car did not purchase FSD
- Oil hits $68 on Libya force majeure despite pandemic surge
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Jefferies analyst George Notter raised the price target on Cambium Networks Corp. (NASDAQ: CMBM) to $52.00 (from $50.00) highlighting the company as a play on rural broadband in the U.S. and abroad. Cambium reported $82.8M / $0.38 that topped consensus of $76.9M / $0.27 driven by very strong PMP results while the PTP side of the business continues to tread water. For Q1, Cambium guided above consensus with sales of $83M (mid-point) and 30-34c in EPS (Street = $73M and $0.22) – the 3rd consecutive quarter where they’ve guided up meaningfully vs. Street.
The analyst reiterated the Buy rating, stating "The organization began shipping their 60 GHz cnWave product in December with their 28GHz, 5G product expected around mid-year. Separately, they expanded the PMP 450 product line with the 450b and 450 microPoP products. They also released the cnMaestro X network management platform – a more fully-featured version of cnMaestro. The platform is interesting as the organization is working to move customer onto a SaaS subscription model (the prior cnMaestro platform was free to customers up to 10,000 subscribers). Assuming they get reasonable adoption, cnMaestro X could be an interesting lever for the business".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mesa Air Group (MESA) PT Raised to $14 at Raymond James Despite Storms and Power Outages
- Sandfire Resources NL (SFR:AU) (SRAFF) PT Raised to AUD8.50 at Canaccord Genuity
- Turquoise Hill Resources (TRQ:CN) (TRQ) PT Raised to Cdn$20 at BMO Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!