Brokerages Set Ciena Corporation (NYSE:CIEN) Target Price at $85.54

Shares of Ciena Corporation (NYSE:CIEN) have received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $85.5385.

CIEN has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their target price on Ciena from $65.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. UBS Group lifted their target price on Ciena from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. lifted their target price on Ciena from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Wolfe Research upgraded Ciena to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Northland Securities set a $100.00 price objective on Ciena in a report on Monday, June 30th.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $90.94, for a total value of $31,829.00. Following the sale, the senior vice president owned 43,268 shares in the company, valued at approximately $3,934,791.92. The trade was a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph Cumello sold 2,044 shares of the business’s stock in a transaction on 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 owned 47,198 shares in the company, valued at $3,853,244.72. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,969 shares of company stock worth $2,694,781 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ciena

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Ciena by 195.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock worth $392,345,000 after purchasing an additional 3,062,883 shares during the period. Atreides Management LP acquired a new position in shares of Ciena during the second quarter worth about $102,705,000. Nuveen LLC purchased a new stake in shares of Ciena during the first quarter worth approximately $70,065,000. Polar Capital Holdings Plc increased its stake in shares of Ciena by 113.7% during the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider’s stock worth $183,987,000 after buying an additional 1,154,260 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Ciena by 3,577.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,032,393 shares of the communications equipment provider’s stock worth $83,965,000 after buying an additional 1,004,323 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

NYSE CIEN opened at $89.7620 on Monday. The stock’s fifty day moving average is $85.05 and its two-hundred day moving average is $76.77. The firm has a market capitalization of $12.69 billion, a P/E ratio of 124.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.57 and a current ratio of 3.40. Ciena has a fifty-two week low of $49.21 and a fifty-two week high of $101.44.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Ciena had a return on equity of 5.08% and a net margin of 2.46%.The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Ciena will post 1.6 earnings per share for the current year.

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.