Rosenblatt Securities Forecasts Strong Price Appreciation for Ciena (NYSE:CIEN) Stock

Key Points

• Rosenblatt Securities has raised its price target for Ciena from $78 to $100, indicating a possible upside of 2.18% based on the current stock price.
• The consensus rating for Ciena's stock is a "Moderate Buy," with the average target price set at $86.69.
• Ciena's quarterly earnings report showed a 23.6% year-over-year revenue growth, despite missing the earnings per share estimate by $0.08.

Ciena (NYSE:CIEN - Get Free Report) had its price objective increased by analysts at Rosenblatt Securities from $78.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the communications equipment provider's stock. Rosenblatt Securities' target price would indicate a potential upside of 2.18% from the stock's current price.

CIEN has been the topic of several other research reports. Evercore ISI reiterated a "mixed" rating on shares of Ciena in a research note on Friday, June 6th. B. Riley reaffirmed a "buy" rating and issued a $90.00 price objective (up previously from $89.00) on shares of Ciena in a research report on Friday, June 6th. Morgan Stanley reiterated an "underweight" rating and set a $70.00 price objective (down previously from $73.00) on shares of Ciena in a research note on Tuesday, July 8th. Northland Securities set a $100.00 target price on shares of Ciena in a research note on Monday, June 30th. Finally, Wolfe Research raised Ciena to a "strong-buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.69.

Ciena Price Performance

NYSE CIEN opened at $97.87 on Friday. The company has a market cap of $13.83 billion, a PE ratio of 135.92, a P/E/G ratio of 2.07 and a beta of 1.11. The firm's 50 day moving average price is $86.61 and its 200-day moving average price is $76.83. 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 52-week low of $49.21 and a 52-week high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.08). Ciena had a return on equity of 5.08% and a net margin of 2.46%.The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.27 EPS. The business's quarterly revenue was up 23.6% on a year-over-year basis. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Ciena will post 1.6 EPS for the current fiscal year.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 325,557 shares of the company's stock, valued at $26,770,552.11. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jason Phipps sold 2,325 shares of Ciena stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $80.50, for a total value of $187,162.50. Following the sale, the senior vice president directly owned 84,833 shares of the company's stock, valued at approximately $6,829,056.50. This represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,969 shares of company stock worth $2,694,781. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ciena

Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in Ciena by 50.0% in the 1st quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock worth $32,000 after buying an additional 178 shares during the period. Bayforest Capital Ltd increased its stake in shares of Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock worth $38,000 after acquiring an additional 164 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ciena by 66.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock worth $39,000 after purchasing an additional 256 shares during the last quarter. Orion Capital Management LLC acquired a new position in Ciena during the fourth quarter valued at $42,000. Finally, AdvisorNet Financial Inc boosted its holdings in Ciena by 9,162.5% in the first quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock valued at $45,000 after purchasing an additional 733 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.