Recent Analysts’ Ratings Updates for Ciena (CIEN)

A number of research firms have changed their ratings and price targets for Ciena (NYSE: CIEN):

• 6/12/2024 – Ciena was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $55.00 price target on the stock, up previously from $53.00.
• 6/7/2024 – Ciena had its price target lowered by analysts at Barclays PLC from $63.00 to $55.00. They now have an “overweight” rating on the stock.
• 6/7/2024 – Ciena had its price target raised by analysts at Rosenblatt Securities from $52.50 to $54.00. They now have a “neutral” rating on the stock.
• 6/7/2024 – Ciena had its price target lowered by analysts at B. Riley from $68.00 to $66.00. They now have a “buy” rating on the stock.
• 6/6/2024 – Ciena was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating. They now have a $54.00 price target on the stock, down previously from $59.00.
• 6/3/2024 – Ciena had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $65.00 price target on the stock.
• 5/30/2024 – Ciena had its price target lowered by analysts at JPMorgan Chase & Co. from $67.00 to $60.00. They now have an “overweight” rating on the stock.
• 5/30/2024 – Ciena was downgraded by analysts at Rosenblatt Securities from a “buy” rating to a “neutral” rating. They now have a $52.50 price target on the stock, down previously from $65.00.

Ciena Stock Up 1.0 %

Shares of NYSE:CIEN opened at $48.13 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.88 and a quick ratio of 2.76. Ciena Co. has a one year low of $39.94 and a one year high of $63.24. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 4.65 and a beta of 0.99. The firm has a fifty day moving average price of $47.67 and a two-hundred day moving average price of $49.43.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The company had revenue of $910.80 million during the quarter, compared to the consensus estimate of $895.80 million. During the same period in the previous year, the firm posted $0.59 EPS. The firm’s revenue was down 19.6% compared to the same quarter last year. Analysts anticipate that Ciena Co. will post 1.22 EPS for the current fiscal year.

Insider Activity

In related news, SVP Brodie Gage sold 533 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the sale, the senior vice president now directly owns 41,372 shares in the company, valued at approximately $2,052,464.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Joseph Cumello sold 3,156 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $45.74, for a total value of $144,355.44. Following the completion of the sale, the senior vice president now directly owns 51,171 shares of the company’s stock, valued at approximately $2,340,561.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brodie Gage sold 533 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the transaction, the senior vice president now directly owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,641 shares of company stock valued at $1,031,032. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Ciena

A number of hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new position in shares of Ciena during the 4th quarter valued at $30,000. Register Financial Advisors LLC purchased a new position in Ciena in the first quarter worth about $33,000. Headlands Technologies LLC bought a new stake in shares of Ciena during the 1st quarter valued at about $40,000. Covestor Ltd increased its position in shares of Ciena by 339.5% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the communications equipment provider’s stock valued at $60,000 after purchasing an additional 937 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Ciena in the 4th quarter worth approximately $61,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.