CIENA Corp. [CIEN] stock prices are up 5.62% to $51.67 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CIEN shares have gain 10.57% over the last week, with a monthly amount glided 6.89%, and 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.
The stock price of CIENA Corp. [CIEN] has been fluctuating between $39.94 and $63.24 over the past year. Currently, Wall Street analysts expect the stock to reach $66.32 within the next 12 months. CIENA Corp. [NYSE: CIEN] shares were valued at $51.67 at the most recent close of the market. An investor can expect a potential return of 28.35% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
The CIENA Corp. [NYSE:CIEN] reported sales of 4.15B for trailing twelve months, representing a drop of -19.58%. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.55.
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 49.67 points at the first support level, and at 47.67 for the second support level. However, for the 1st resistance point, the stock is sitting at 52.87, and for the 2nd resistance point, it is at 54.07.
Ratios To Look Out For
It’s worth pointing out that CIENA Corp. [NYSE:CIEN]’s Current Ratio 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 1.79, the price to book ratio is 2.59 and price to earnings (TTM) ratio is 49.76.
Transactions by insiders
Recent insider trading involved Phipps Jason, SVP Global Sales and Marketing, that happened on Jul 01 ’24 when 2712.0 shares were sold. SVP Global R&D, DiPerna Dino completed a deal on Jul 01 ’24 to sell 490.0 shares. Meanwhile, SVP and Chief Strategy Officer Rothenstein David M sold 3500.0 shares on Jun 17 ’24.
