CIENA Corp. [CIEN] stock is trading at $56.79, up 0.44%. 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 5.28% over the last week, with a monthly amount glided 13.22%, 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.
CIENA Corp. [CIEN] stock has fluctuated 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 $56.79 at the most recent close of the market. An investor can expect a potential return of 16.78% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
CIENA Corp. [NYSE:CIEN] reported sales of 4.15B for the trailing twelve months, which represents 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. 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 56.43 points at the first support level, and at 56.06 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.33, and for the 2nd resistance point, it is at 57.86.
Ratios To Look Out For
For context, CIENA Corp.’s Current Ratio is 3.86. Also, the Quick Ratio is 2.74, while the Cash Ratio stands at 1.2. Considering the valuation of this stock, the price to sales ratio is 1.97, the price to book ratio is 2.84 and price to earnings (TTM) ratio is 54.69.
Transactions by insiders
Recent insider trading involved Rothenstein David M, SVP and Chief Strategy Officer, that happened on Aug 15 ’24 when 3500.0 shares were sold. SVP, General Mgr. Blue Planet, Cumello Joseph completed a deal on Aug 15 ’24 to sell 1289.0 shares. Meanwhile, Officer SCOTT MCFEELY bought 2500.0 shares on Aug 15 ’24.
