Ciena Corporation (NYSE: CIEN) has recently received a number of price target changes and ratings updates:

  • 9/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $30.50 price target on the stock.
  • 9/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $30.00 price target on the stock.
  • 9/1/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $30.00 price target on the stock.
  • 9/1/2017 – Ciena Corporation had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $22.00 price target on the stock, down previously from $24.00.
  • 9/1/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $28.00 price target on the stock, down previously from $32.00.
  • 9/1/2017 – Ciena Corporation had its price target lowered by analysts at Dougherty & Co from $32.00 to $27.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – Ciena Corporation had its price target lowered by analysts at Nomura from $30.00 to $28.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $31.00 price target on the stock.
  • 8/31/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $30.00 price target on the stock.
  • 8/31/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at William Blair.
  • 8/31/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at MKM Partners.
  • 8/30/2017 – Ciena Corporation was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $29.00 price target on the stock, up previously from $23.87.
  • 8/30/2017 – Ciena Corporation was given a new $31.00 price target on by analysts at UBS AG. They now have a “buy” rating on the stock.
  • 8/29/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $34.25 price target on the stock. They wrote, “We believe the headwind is mainly due to various M&A activity among service providers, which we believe will be diminishing in the next quarter or two.  NA Telco. T and VZ were 10% customers, representing 28% of sales, and we expect both to trend up in FY18 as they are in the early stages of metro upgrade cycles.  WaveServer. The WaveServer product line had a record revenue quarter in F3Q, and is on pace to exceed $100MM in FY17 (less than $10MM in FY16). We believe CIEN is gaining market share from ADVA (ADV.DE; N/R) at Amazon (AMZN; N/R).  APAC. Led by India, APAC was up 41.6% Y/Y and represented 15.9% of sales.””
  • 8/24/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 8/18/2017 – Ciena Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/14/2017 – Ciena Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/7/2017 – Ciena Corporation was given a new $32.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 8/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at William Blair.
  • 8/2/2017 – Ciena Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ciena is benefiting from increasing demand for Packet Optical, Packet Networking and Optical Transport products. Increasing usage of service management software in the global communication market is a key catalyst. Moreover, the company’s efforts toward expanding footprint in data-center connectivity and enhancing its reach into a broader end-to-end optical and data-equipment market, is commendable. Further, the Verizon project remains a long-term growth driver along with opportunities in DCI and submarine vertical. However, Ciena’s highly leveraged balance sheet doesn't augur well for investors. Also, intensifying competition and customer concentration are major concerns. Notably, the company has underperformed the industry on a year-to-date basis.”
  • 7/24/2017 – Ciena Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/21/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $32.00 price target on the stock.

Shares of Ciena Corporation (CIEN) opened at 21.65 on Friday. The company has a 50 day moving average price of $24.37 and a 200-day moving average price of $24.32. Ciena Corporation has a 52-week low of $18.94 and a 52-week high of $27.98. The stock has a market capitalization of $3.07 billion, a P/E ratio of 28.60 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. During the same period in the previous year, the firm posted $0.42 EPS. Ciena Corporation’s revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.

In other news, SVP Stephen B. Alexander sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $25.02, for a total transaction of $62,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 12,558 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $25.31, for a total value of $317,842.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,108 shares of company stock worth $1,945,437. 1.45% of the stock is currently owned by insiders.

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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