Research Analysts’ Weekly Ratings Changes for Ciena (CIEN)

by · The Cerbat Gem

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

  • 10/9/2024 – Ciena had its price target raised by analysts at Morgan Stanley from $60.00 to $63.00. They now have an “overweight” rating on the stock.
  • 10/9/2024 – Ciena was downgraded by analysts at BNP Paribas from an “outperform” rating to a “neutral” rating. They now have a $67.00 price target on the stock, up previously from $59.00.
  • 10/9/2024 – Ciena had its price target raised by analysts at Stifel Nicolaus from $68.00 to $75.00. They now have a “buy” rating on the stock.
  • 10/7/2024 – Ciena was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $65.00 price target on the stock.
  • 9/23/2024 – Ciena was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “buy” rating. They now have a $68.00 price target on the stock, up previously from $44.00.
  • 9/5/2024 – Ciena had its price target raised by analysts at Barclays PLC from $55.00 to $67.00. They now have an “overweight” rating on the stock.
  • 9/5/2024 – Ciena had its price target raised by analysts at Rosenblatt Securities from $54.00 to $60.00. They now have a “neutral” rating on the stock.
  • 9/5/2024 – Ciena had its “neutral” rating reaffirmed by analysts at Bank of America Co.. They now have a $59.00 price target on the stock.
  • 9/5/2024 – Ciena had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $65.00 price target on the stock.
  • 9/4/2024 – Ciena had its price target raised by analysts at Morgan Stanley from $55.00 to $60.00. They now have an “overweight” rating on the stock.
  • 9/3/2024 – Ciena had its “market perform” rating reaffirmed by analysts at Northland Securities. They now have a $46.00 price target on the stock.
  • 9/3/2024 – Ciena had its price target raised by analysts at Stifel Nicolaus from $62.00 to $68.00. They now have a “buy” rating on the stock.
  • 8/22/2024 – Ciena had its price target raised by analysts at Needham & Company LLC from $60.00 to $65.00. They now have a “buy” rating on the stock.

Ciena Stock Performance

Shares of NYSE:CIEN traded down $0.74 during trading on Monday, hitting $67.73. The company’s stock had a trading volume of 1,458,211 shares, compared to its average volume of 1,825,361. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 65.13, a P/E/G ratio of 8.83 and a beta of 0.94. The company has a 50-day moving average of $56.80 and a 200-day moving average of $51.09. Ciena Co. has a 12 month low of $39.94 and a 12 month high of $69.91.

Ciena (NYSE:CIEN – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The communications equipment provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.09. Ciena had a net margin of 3.44% and a return on equity of 5.98%. The business had revenue of $942.30 million for the quarter, compared to the consensus estimate of $928.31 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Ciena Co. will post 1.13 earnings per share for the current year.

Insider Activity at Ciena

In related news, SVP Jason Phipps sold 2,200 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $61.49, for a total value of $135,278.00. Following the completion of the sale, the senior vice president now directly owns 91,149 shares of the company’s stock, valued at approximately $5,604,752.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.24, for a total transaction of $196,840.00. Following the completion of the sale, the senior vice president now owns 205,421 shares in the company, valued at approximately $11,552,877.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $61.49, for a total value of $135,278.00. Following the completion of the transaction, the senior vice president now directly owns 91,149 shares in the company, valued at approximately $5,604,752.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ciena

Several institutional investors and hedge funds have recently modified their holdings of CIEN. Panagora Asset Management Inc. increased its holdings in Ciena by 4.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 5,404 shares of the communications equipment provider’s stock valued at $260,000 after acquiring an additional 239 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Ciena by 424.4% in the third quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 365 shares in the last quarter. Hoese & Co LLP bought a new position in Ciena during the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division grew its holdings in Ciena by 4.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 11,792 shares of the communications equipment provider’s stock valued at $726,000 after buying an additional 460 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Ciena by 17.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,465 shares of the communications equipment provider’s stock worth $167,000 after acquiring an additional 514 shares during the last quarter. Institutional investors 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.

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