Why Ciena Corporation [CIEN] Stock Can Run Back to New Highs Quicker Than You Think

Ciena Corporation [CIEN] stock is up 2.41 while the S&P 500 has fallen -0.17% on Friday, 12/04/20. While at the time of this article, CIEN ATR is sitting at 1.13, with the beta value at 0.82. This stock’s volatility for the past week remained at 2.17%, while it was 2.49% for the past 30-day period. CIEN has risen $1.13 from the previous closing price of $46.98 on volume of 0.85 million shares.

On 3, December 2020, Ciena to Webcast Financial Community Event. According to news published on Yahoo Finance, Ciena® Corporation (NYSE: CIEN) today announced its expected participation in the following upcoming event with the financial community. The event will be webcast live and recorded. Archived versions are expected to be made available approximately one hour following the presentation of the live event in the Investor Relations section of Ciena’s website at www.ciena.com.

Analyst Birdseye View:

The most recent analyst activity for Ciena Corporation [NYSE:CIEN] stock was on July 24, 2020, when it was Initiated with an Outperform rating from Wolfe Research. Before that, on November 18, 2020, Rosenblatt Recapitulated a Neutral rating and elevated its amount target to $45. On July 21, 2020, Needham Upgrade a Buy rating and boosted its price target on this stock to $65. On June 04, 2020, Northland Capital Downgrade a Market perform rating. On May 13, 2020, B. Riley FBR Downgrade a Neutral rating and decreased its price target to $51. On April 16, 2020, Morgan Stanley Downgrade an Equal-weight rating and boosted its amount on this stock to $47. On January 08, 2020, Morgan Stanley Upgrade an Overweight rating and boosted its target amount on this stock from $47 to $50. On December 13, 2019 Piper Jaffray Upgrade an Overweight rating and elevated its amount target to $50.

In the past 52 weeks of trading, this stock has oscillated between a low of $30.58 and a peak of $61.51. Right now, according to Wall Street analyst the average 12-month amount target is $52.50. At the most recent market close, shares of Ciena Corporation [NYSE:CIEN] were valued at $48.11. According to the average price forecast, investors can expect a potential return of 2.83%.

FUNDAMENTAL ANALYSIS

Ciena Corporation [NYSE:CIEN] most recently reported quarterly sales of 976.71 billion, which represented growth of 1.70%. This publicly-traded organization’s revenue is $559,632 per employee, while its income is $39,705 per employee. This company’s Gross Margin is currently 45.40%, its Operating Margin is 13.20%, its Pretax Margin is +8.77, and its Net Margin is +7.09. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 6.63, 12.36, 13.33 and 9.05 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 25.80 and the whole liability to whole assets at 19.40. It shows enduring liability to the whole principal at 25.47 and enduring liability to assets at 0.19 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 46.58 points at 1st support level, the second support level is making up to 46.18. But as of 1st resistance point, this stock is sitting at 47.25 and at 47.52 for 2nd resistance point.

Ciena Corporation [CIEN] reported its earnings at $1.06 per share in the fiscal quarter closing of 7/30/2020. The Analysts for Wall Street were expecting to report its earnings at $0.82/share signifying the difference of 0.24 and 29.30% surprise value. Comparing the previous quarter ending of 4/29/2020, the stated earnings were $0.76 calling estimates for $0.49/share with the difference of 0.27 depicting the surprise of 55.10%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Ciena Corporation [NYSE:CIEN] is 3.60. Likewise, the Quick ratio is also the same, showing Cash ratio at 1.20. Now if looking for a valuation of this stock’s amount to sales ratio it’s 1.64, it’s amount to book ratio is 2.64 and showing 19.46 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by McFeely Scott, SVP, Networking Platforms, and it was the sale of 900.0 shares on Dec 01. MOYLAN JAMES E JR, the SVP Finance, CFO, completed a sale of 2000.0 shares on Nov 30. On Nov 24, SMITH GARY B, President, CEO, completed a sale of 1200.0 shares.