A share price of CIENA Corp. [CIEN] is currently trading at $61.68, up 5.02%. An important factor to consider is whether the stock is rising or falling in short-term value. The CIEN shares have gain 9.56% over the last week, with a monthly amount glided 13.59%, 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 September 23, 2024, when Citigroup upgraded its rating to a Buy and also boosted its price target to $68 from $44. Previously, BofA Securities downgraded its rating to Neutral on September 05, 2024. On June 12, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $55 on the stock. Raymond James downgraded its rating to a Outperform and decreased its price target to $54 on June 06, 2024. Rosenblatt downgraded its rating to a Neutral and reduced its price target to $52.50 on May 30, 2024. Citigroup started tracking with a Sell rating for this stock on April 12, 2024, and assigned it a price target of $44. In a note dated April 11, 2024, Exane BNP Paribas initiated an Outperform rating and provided a target price of $57 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 $64.89 within the next 12 months. CIENA Corp. [NYSE: CIEN] shares were valued at $61.68 at the most recent close of the market. An investor can expect a potential return of 5.2% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
Trailing Twelve Months sales for CIENA Corp. [NYSE:CIEN] were 4.02B which represents -11.76% decline. Gross Profit Margin for this corporation currently stands at 0.41% with Operating Profit Margin at 0.05%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.05 and Total Capital is 0.05. 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 60.42 points at the first support level, and at 59.17 for the second support level. However, for the 1st resistance point, the stock is sitting at 62.51, and for the 2nd resistance point, it is at 63.35.
Ratios To Look Out For
To put it in perspective, the Current Ratio for CIENA Corp. [NYSE:CIEN] is 4.04. On the other hand, the Quick Ratio is 2.97, and the Cash Ratio is 1.01. Considering the valuation of this stock, the price to sales ratio is 2.22, the price to book ratio is 3.08 and price to earnings (TTM) ratio is 65.76.
Transactions by insiders
Recent insider trading involved Cumello Joseph, SVP, General Mgr. Blue Planet, that happened on Sep 16 ’24 when 1289.0 shares were sold. SVP and Chief Strategy Officer, Rothenstein David M completed a deal on Sep 16 ’24 to sell 3500.0 shares. Meanwhile, Officer JOSEPH CUMELLO bought 1289.0 shares on Sep 16 ’24.
