Ciena (CIEN) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Ciena (NYSE: CIEN) in the last few weeks:

• 12/13/2024 – Ciena had its price target raised by analysts at Barclays PLC from $67.00 to $97.00. They now have an “overweight” rating on the stock.
• 12/13/2024 – Ciena had its price target raised by analysts at Rosenblatt Securities from $75.00 to $94.00. They now have a “neutral” rating on the stock.
• 12/13/2024 – Ciena had its price target raised by analysts at Northland Securities from $46.00 to $60.00. They now have a “market perform” rating on the stock.
• 12/13/2024 – Ciena had its price target raised by analysts at Citigroup Inc. from $84.00 to $98.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Ciena had its price target raised by analysts at Needham & Company LLC from $80.00 to $95.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Ciena was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $95.00 price target on the stock, up previously from $70.00.
• 12/10/2024 – Ciena had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $82.00 price target on the stock, up previously from $75.00.
• 12/5/2024 – Ciena had its price target raised by analysts at Rosenblatt Securities from $60.00 to $75.00. They now have a “neutral” rating on the stock.
• 12/5/2024 – Ciena had its price target raised by analysts at Citigroup Inc. from $68.00 to $84.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Ciena had its price target raised by analysts at Needham & Company LLC from $75.00 to $80.00. They now have a “buy” rating on the stock.
• 10/28/2024 – Ciena was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $63.00 price target on the stock.

Ciena Stock Performance

Shares of Ciena stock traded up $0.63 during trading on Thursday, reaching $88.56. The company’s stock had a trading volume of 560,074 shares, compared to its average volume of 1,859,377. Ciena Co. has a one year low of $43.30 and a one year high of $91.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 4.06. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 94.21, a price-to-earnings-growth ratio of 5.95 and a beta of 0.95. The business’s fifty day moving average price is $72.24 and its 200-day moving average price is $60.08.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). Ciena had a return on equity of 5.98% and a net margin of 3.44%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Ciena Co. will post 1.13 earnings per share for the current year.

Insider Activity

In other news, SVP Jason Phipps sold 2,200 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $61.49, for a total value of $135,278.00. Following the sale, the senior vice president now owns 91,149 shares of the company’s stock, valued at approximately $5,604,752.01. This represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Cumello sold 1,289 shares of Ciena stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $68.99, for a total transaction of $88,928.11. Following the transaction, the senior vice president now directly owns 39,486 shares of the company’s stock, valued at $2,724,139.14. This represents a 3.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,489 shares of company stock worth $772,026. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hoese & Co LLP acquired a new stake in shares of Ciena in the 3rd quarter valued at $25,000. UMB Bank n.a. raised its holdings in Ciena by 424.4% during the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 365 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 512 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Ciena by 241.5% in the 3rd quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Quarry LP grew its position in shares of Ciena by 118.9% during the 2nd quarter. Quarry LP now owns 1,572 shares of the communications equipment provider’s stock worth $76,000 after buying an additional 854 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

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.