Ciena PT Lowered to $32.00 at Dougherty & Co (CIEN)
Dougherty & Co decreased their price objective on shares of Ciena (NASDAQ:CIEN) from $34.00 to $32.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Dougherty & Co’s target price would suggest a potential upside of 72.88% from the company’s current price.
CIEN has been the subject of a number of other recent research reports. Analysts at RBC Capital cut their price target on shares of Ciena from $21.00 to $19.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs upgraded shares of Ciena from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $26.00 price target on the stock, up previously from $18.51. Finally, analysts at BMO Capital Markets cut their price target on shares of Ciena from $30.00 to $24.00 in a research note on Friday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.75.
Ciena (NASDAQ:CIEN) opened at 18.51 on Friday. Ciena has a 52 week low of $18.00 and a 52 week high of $27.94. The stock has a 50-day moving average of $19.66 and a 200-day moving average of $21.15. The company’s market cap is $1.955 billion.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $603.60 million for the quarter, compared to the consensus estimate of $600.81 million. During the same quarter last year, the company posted $0.23 earnings per share. Ciena’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Ciena will post $0.95 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.
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