Share on StockTwits

Ciena (NASDAQ:CIEN) was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, reports. The firm currently has a $27.00 price target on the stock, up from their previous price target of $25.00. UBS AG’s target price would indicate a potential upside of 31.32% from the stock’s previous close. The analysts noted that the move was a valuation call.

In other Ciena news, SVP James Richard Dodd, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $19.81, for a total transaction of $29,715.00. Following the completion of the transaction, the senior vice president now directly owns 122,741 shares of the company’s stock, valued at approximately $2,431,499. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

CIEN has been the subject of a number of other recent research reports. Analysts at National Alliance Securities initiated coverage on shares of Ciena in a research note on Tuesday, April 8th. They set a “buy” rating and a $27.00 price target on the stock. Separately, analysts at RBC Capital downgraded shares of Ciena from an “outperform” rating to a “sector perform” rating in a research note on Friday, March 28th. They now have a $28.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Ciena in a research note on Wednesday, March 12th. They now have a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $27.33.

Shares of Ciena (NASDAQ:CIEN) traded up 4.77% during mid-day trading on Thursday, hitting $21.54. 4,484,075 shares of the company’s stock traded hands. Ciena has a 52-week low of $14.22 and a 52-week high of $27.94. The stock has a 50-day moving average of $22.30 and a 200-day moving average of $23.26. The company’s market cap is $2.262 billion.

Ciena (NASDAQ:CIEN) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate of $533.75 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts expect that Ciena will post $0.88 EPS for the current fiscal year.

Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.