Ciena (NYSE:CIEN) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Ciena (NYSE:CIEN) had its price target hoisted by stock analysts at Rosenblatt Securities from $78.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price target points to a potential upside of 6.55% from the stock’s previous close.

CIEN has been the subject of several other reports. Evercore ISI reissued a “mixed” rating on shares of Ciena in a report on Friday, June 6th. Morgan Stanley reissued an “underweight” rating and issued a $70.00 target price (down from $73.00) on shares of Ciena in a report on Tuesday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Ciena in a report on Friday, June 6th. Northland Securities set a $100.00 target price on shares of Ciena in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ciena from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ciena Price Performance

NYSE CIEN opened at $93.85 on Friday. Ciena has a 52 week low of $49.21 and a 52 week high of $101.44. The firm has a market capitalization of $13.27 billion, a P/E ratio of 130.35, a PEG ratio of 2.10 and a beta of 1.11. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $87.00 and a 200-day moving average price of $76.79.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.08). Ciena had a net margin of 2.46% and a return on equity of 5.08%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.27 EPS. Ciena’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. Equities research analysts anticipate that Ciena will post 1.6 earnings per share for the current year.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $82.23, for a total value of $559,164.00. Following the completion of the transaction, the chief executive officer directly owned 325,557 shares in the company, valued at $26,770,552.11. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jason Phipps sold 2,325 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $80.50, for a total value of $187,162.50. Following the completion of the transaction, the senior vice president owned 84,833 shares of the company’s stock, valued at $6,829,056.50. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,969 shares of company stock valued at $2,694,781. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ciena by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,088,445 shares of the communications equipment provider’s stock valued at $1,227,143,000 after acquiring an additional 103,199 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ciena by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,243,053 shares of the communications equipment provider’s stock valued at $426,420,000 after acquiring an additional 359,579 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Ciena by 10.4% during the 2nd quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after acquiring an additional 329,821 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Ciena by 35.0% during the 2nd quarter. William Blair Investment Management LLC now owns 2,708,540 shares of the communications equipment provider’s stock valued at $220,286,000 after acquiring an additional 702,909 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its position in shares of Ciena by 113.7% during the 4th quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider’s stock valued at $183,987,000 after acquiring an additional 1,154,260 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

About Ciena

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.