CIENA Corp [CIEN] stock prices are down -0.76% to $73.02 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 5.03% over the last week, with a monthly amount glided 3.84%, 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 October 28, 2024, when Morgan Stanley downgraded its rating to a Equal-Weight but kept the price target unchanged to $63 for it. Previously, Evercore ISI downgraded its rating to In-line on October 15, 2024, and kept the price target unchanged to $65. On October 09, 2024, downgrade downgraded it’s rating to Neutral and revised its price target to $67 on the stock. JP Morgan downgraded its rating to a Neutral but stick to its price target of $65 on October 07, 2024. Citigroup upgraded its rating to a Buy and raised its price target to $68 on September 23, 2024. BofA Securities downgraded its rating to Neutral for this stock on September 05, 2024. In a note dated June 12, 2024, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $53 to $55.
The stock price of CIENA Corp [CIEN] has been fluctuating between $42.20 and $73.78 over the past year. Currently, Wall Street analysts expect the stock to reach $62.89 within the next 12 months. CIENA Corp [NYSE: CIEN] shares were valued at $73.02 at the most recent close of the market. An investor can expect a potential drop of -13.87% based on the average CIEN price forecast.
Analyzing the CIEN fundamentals
The CIENA Corp [NYSE:CIEN] reported sales of 4.02B for trailing twelve months, representing a drop of -11.76%. Gross Profit Margin for this corporation currently stands at 0.42% 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 72.29 points at the first support level, and at 71.56 for the second support level. However, for the 1st resistance point, the stock is sitting at 74.43, and for the 2nd resistance point, it is at 75.84.
Ratios To Look Out For
It’s worth pointing out that CIENA Corp [NYSE:CIEN]’s Current Ratio 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 2.67, the price to book ratio is 3.65 and price to earnings (TTM) ratio is 77.85.
Transactions by insiders
Recent insider trading involved Cumello Joseph, SVP, General Mgr. Blue Planet, that happened on Nov 15 ’24 when 1289.0 shares were sold. SVP and Chief Strategy Officer, Rothenstein David M completed a deal on Nov 15 ’24 to sell 3500.0 shares. Meanwhile, Officer JOSEPH CUMELLO bought 1289.0 shares on Nov 15 ’24.
