A share price of CIENA Corp. [CIEN] is currently trading at $47.06, up 0.77%. An important factor to consider is whether the stock is rising or falling in short-term value. The CIEN shares have gain 2.68% over the last week, with a monthly amount drifted -4.35%, 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 June 12, 2024, when Morgan Stanley upgraded its rating to a Overweight and also boosted its price target to $55 from $53. Previously, Raymond James downgraded its rating to Outperform on June 06, 2024, and dropped its price target to $54. On May 30, 2024, downgrade downgraded it’s rating to Neutral and revised its price target to $52.50 on the stock. Citigroup started tracking the stock assigning a Sell rating and suggested a price target of $44 on April 12, 2024. Exane BNP Paribas initiated its recommendation with a Outperform and recommended $57 as its price target on April 11, 2024. Evercore ISI upgraded its rating to Outperform for this stock on January 12, 2024, and upped its price target to $57. In a note dated September 28, 2023, Stifel initiated an Buy rating and provided a target price of $62 on this stock.
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 $66.32 within the next 12 months. CIENA Corp. [NYSE: CIEN] shares were valued at $47.06 at the most recent close of the market. An investor can expect a potential return of 40.93% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
Trailing Twelve Months sales for CIENA Corp. [NYSE:CIEN] were 4.15B which represents -19.58% decline. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.05%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.05 and Total Capital is 0.06. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.55.
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 46.26 points at the first support level, and at 45.46 for the second support level. However, for the 1st resistance point, the stock is sitting at 47.50, and for the 2nd resistance point, it is at 47.93.
Ratios To Look Out For
To put it in perspective, the Current Ratio for CIENA Corp. [NYSE:CIEN] is 3.86. On the other hand, the Quick Ratio is 2.74, and the Cash Ratio is 1.2. Considering the valuation of this stock, the price to sales ratio is 1.63, the price to book ratio is 2.36 and price to earnings (TTM) ratio is 45.32.
Transactions by insiders
Recent insider trading involved SMITH GARY B, President, CEO, that happened on Jun 03 ’24 when 4166.0 shares were sold. President, CEO, SMITH GARY B completed a deal on May 15 ’24 to sell 4166.0 shares. Meanwhile, SVP and Chief Strategy Officer Rothenstein David M sold 3500.0 shares on May 15 ’24.
