Ciena Corporation (NYSE:CIEN) Receives $85.54 Consensus Price Target from Analysts

Shares of Ciena Corporation (NYSE:CIEN) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $85.5385.

A number of research firms recently issued reports on CIEN. B. Riley restated a “buy” rating and set a $90.00 price objective (up previously from $89.00) on shares of Ciena in a research report on Friday, June 6th. Rosenblatt Securities upped their price target on shares of Ciena from $65.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 3rd. UBS Group increased their price objective on shares of Ciena from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, June 6th. Wolfe Research raised shares of Ciena to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Northland Securities set a $100.00 target price on shares of Ciena in a research report on Monday, June 30th.

Insider Transactions at Ciena

In other Ciena news, SVP Joseph Cumello sold 2,044 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $81.64, for a total value of $166,872.16. Following the completion of the sale, the senior vice president directly owned 47,198 shares of the company’s stock, valued at approximately $3,853,244.72. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $82.23, for a total transaction of $559,164.00. Following the sale, the chief executive officer directly owned 325,557 shares of the company’s stock, valued at approximately $26,770,552.11. This represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,969 shares of company stock worth $2,694,781. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Ciena

Several institutional investors and hedge funds have recently bought and sold shares of the business. Marex Group plc bought a new position in Ciena during the second quarter valued at about $434,000. Advisory Services Network LLC raised its stake in Ciena by 58.1% during the 2nd quarter. Advisory Services Network LLC now owns 14,610 shares of the communications equipment provider’s stock valued at $1,188,000 after purchasing an additional 5,369 shares during the last quarter. Caxton Associates LLP lifted its stake in shares of Ciena by 301.0% in the second quarter. Caxton Associates LLP now owns 250,000 shares of the communications equipment provider’s stock valued at $20,332,000 after buying an additional 187,658 shares during the period. State of Tennessee Department of Treasury lifted its holdings in shares of Ciena by 5.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 57,457 shares of the communications equipment provider’s stock worth $4,673,000 after acquiring an additional 3,112 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Ciena by 22.6% in the 2nd quarter. Captrust Financial Advisors now owns 14,599 shares of the communications equipment provider’s stock valued at $1,187,000 after buying an additional 2,693 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Trading Down 2.5%

NYSE:CIEN opened at $86.5670 on Monday. Ciena has a one year low of $49.21 and a one year high of $101.44. The business’s 50-day simple moving average is $84.43 and its 200 day simple moving average is $76.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.57 and a current ratio of 3.40. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 120.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). Ciena had a net margin of 2.46% and a return on equity of 5.08%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Ciena will post 1.6 earnings per share for the current fiscal year.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.