Ciena Stock Rating Upgraded by Goldman Sachs (CIEN)
Ciena (NASDAQ:CIEN) opened at 18.51 on Friday. Ciena has a 1-year low of $18.00 and a 1-year high of $27.94. The stock’s 50-day moving average is $19.66 and its 200-day moving average is $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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts predict that Ciena will post $0.95 earnings per share for the current fiscal year.
CIEN has been the subject of a number of other recent research reports. 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. Separately, analysts at RBC Capital cut their price target on shares of Ciena from $24.00 to $21.00 in a research note on Tuesday, August 19th. They now have a “sector perform” rating on the stock. Finally, analysts at Zacks downgraded shares of Ciena from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.07.
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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