A share price of CIENA Corp. [CIEN] is currently trading at $46.76, up 0.32%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CIEN shares have gain 6.47% over the last week, with a monthly amount drifted -5.44%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
CIENA Corp. [NYSE: CIEN] stock has seen the most recent analyst activity on April 12, 2024, when Citigroup initiated its Sell rating and assigned the stock a price target of $44. Previously, Exane BNP Paribas started tracking the stock with Outperform rating on April 11, 2024, and set its price target to $57. On January 12, 2024, upgrade upgraded it’s rating to Outperform and revised its price target to $57 on the stock. Stifel started tracking the stock assigning a Buy rating and suggested a price target of $62 on September 28, 2023. Needham reiterated its recommendation of a Buy and reduced its price target to $50 on August 28, 2023. Morgan Stanley downgraded its rating to Equal-Weight for this stock on March 29, 2023, and downed its price target to $57. In a note dated March 28, 2023, Raymond James upgraded an Strong Buy rating on this stock and boosted its target price from $58 to $70.
CIENA Corp. experienced fluctuations in its stock price throughout the past year between $39.94 and $63.24. Currently, Wall Street analysts expect the stock to reach $67.88 within the next 12 months. CIENA Corp. [NYSE: CIEN] shares were valued at $46.76 at the most recent close of the market. An investor can expect a potential return of 45.17% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
Trailing Twelve Months sales for CIENA Corp. [NYSE:CIEN] were 4.37B which represents -1.78% decline. Gross Profit Margin for this corporation currently stands at 0.43% with Operating Profit Margin at 0.08%, Pretax Profit Margin comes in at 0.07%, and Net Profit Margin reading is 0.05%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.08 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 0.54.
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 46.49 points at the first support level, and at 46.22 for the second support level. However, for the 1st resistance point, the stock is sitting at 47.04, and for the 2nd resistance point, it is at 47.32.
Ratios To Look Out For
To put it in perspective, the Current Ratio for CIENA Corp. [NYSE:CIEN] is 4.26. As well, the Quick Ratio is 3.09, while the Cash Ratio is 1.5. Considering the valuation of this stock, the price to sales ratio is 1.55, the price to book ratio is 2.32 and price to earnings (TTM) ratio is 30.39.
Transactions by insiders
Recent insider trading involved SMITH GARY B, President, CEO, that happened on Apr 15 ’24 when 4166.0 shares were sold. SVP and Chief Strategy Officer, Rothenstein David M completed a deal on Apr 15 ’24 to sell 3500.0 shares. Meanwhile, SVP, General Mgr. Blue Planet Cumello Joseph sold 3156.0 shares on Apr 15 ’24.
