At the time of writing, CIENA Corp. [CIEN] stock is trading at $62.48, up 2.70%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CIEN shares have gain 11.25% over the last week, with a monthly amount glided 15.51%, and seem to be holding up well over a long-time horizon.
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On 13, February 2024, Astound Business Solutions Launches Commercial 400G Wavelength Service across the U.S., Powered by Ciena. In a post published today on Yahoo Finance, Astound Business Solutions, an award-winning nationwide provider of high-capacity and secure connectivity for business customers, has launched 400G Wavelength, a commercial service that leverages Ciena’s (NYSE: CIEN) WaveLogic 5 Extreme (WL5e) 800G and WaveLogic 5 Nano (WL5n) 400G coherent optics to deliver the massive capacity required by large carriers, enterprises, and public sector organizations.
From an analyst’s perspective:
CIENA Corp. [NYSE: CIEN] stock has seen the most recent analyst activity on January 12, 2024, when Evercore ISI upgraded its rating to a Outperform and also boosted its price target to $57 from $52. Previously, Stifel started tracking the stock with Buy rating on September 28, 2023, and set its price target to $62. On August 28, 2023, Needham reiterated its Buy rating and revised its price target to $50 on the stock. Morgan Stanley downgraded its rating to a Equal-Weight and decreased its price target to $57 on March 29, 2023. Raymond James upgraded its rating to a Strong Buy and raised its price target to $70 on March 28, 2023. JP Morgan upgraded its rating to Overweight for this stock on December 20, 2022, but kept the price target unchanged to $60. In a note dated October 11, 2022, Evercore ISI downgraded an In-line rating on this stock and revised its target price from $56 to $46.
For the past year, the stock price of CIENA Corp. fluctuated between $39.94 and $61.01. Currently, Wall Street analysts expect the stock to reach $69.06 within the next 12 months. CIENA Corp. [NYSE: CIEN] shares were valued at $62.48 at the most recent close of the market. An investor can expect a potential return of 10.53% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
According to CIENA Corp. [NYSE:CIEN], the company’s sales were 4.39B for trailing twelve months, which represents an 16.32% jump. Gross Profit Margin for this corporation currently stands at 0.43% with Operating Profit Margin at 0.09%, Pretax Profit Margin comes in at 0.07%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.09 and Total Capital is 0.08. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.56.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 61.91 points at the first support level, and at 61.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 63.15, and for the 2nd resistance point, it is at 63.81.
CIENA Corp. [CIEN] reported earnings per share of $0.75 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.69/share, meaning a difference of $0.06 and a surprise factor of 8.70%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were $0.59 per share as compared to estimates of $0.51 per share, a difference of $0.08 representing a surprise of 15.70%.
Ratios To Look Out For
It is important to note that CIENA Corp. [NYSE:CIEN] has a current ratio of 3.81. Also, the Quick Ratio is 2.68, while the Cash Ratio stands at 1.08. Considering the valuation of this stock, the price to sales ratio is 2.07, the price to book ratio is 3.18 and price to earnings (TTM) ratio is 36.57.
Transactions by insiders
We now turn our attention to insider trading, which in the past 3 months has resulted in 1 insider buyings of 21,799 shares and 6 insider sellings of 2,053 shares. Recent insider trading involved SMITH GARY B, President, CEO, that happened on Feb 15 when 8332.0 shares were sold. SVP and Chief Strategy Officer, Rothenstein David M completed a deal on Feb 15 to sell 3500.0 shares. Meanwhile, President, CEO SMITH GARY B sold 70838.0 shares on Feb 01.
