Ciena (CIEN) Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 2 hold ratings, 10 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" CIEN shares.
View CIEN analyst ratings or view top-rated stocks.

13 brokers have issued twelve-month price targets for Ciena's shares. Their CIEN share price forecasts range from $45.00 to $76.00. On average, they predict the company's share price to reach $66.29 in the next year. This suggests a possible upside of 37.7% from the stock's current price.
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Ciena's stock was trading at $50.98 on January 1st, 2023. Since then, CIEN shares have decreased by 5.6% and is now trading at $48.13.
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Ciena saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 4,460,000 shares, an increase of 13.8% from the April 30th total of 3,920,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.0% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 6th 2023.
View our CIEN earnings forecast.

Ciena will be holding an earnings conference call on Tuesday, June 6th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Ciena Co. (NYSE:CIEN) posted its earnings results on Monday, March, 6th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.28. The communications equipment provider had revenue of $1.06 billion for the quarter, compared to analyst estimates of $959.04 million. Ciena had a trailing twelve-month return on equity of 8.22% and a net margin of 4.77%. The firm's revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share.

ETFs with the largest weight of Ciena (NYSE:CIEN) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), Future Fund Active ETF (FFND), SPDR S&P Telecom ETF (XTL), iShares U.S. Telecommunications ETF (IYZ), iShares Future Cloud 5G and Tech ETF (IDAT), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT), SRH U.S. Quality ETF (SRHQ) and Defiance Next Gen Connectivity ETF (FIVG).

Ciena issued an update on its FY 2023 earnings guidance on Tuesday, April, 25th. The company provided EPS guidance of for the period. The company issued revenue guidance of $4.36 billion-$4.43 billion, compared to the consensus revenue estimate of $4.42 billion.

581 employees have rated Ciena Chief Executive Officer Gary B. Smith on Glassdoor.com. Gary B. Smith has an approval rating of 95% among the company's employees. This puts Gary B. Smith in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Ciena investors own include NVIDIA (NVDA), Bank of America (BAC), Advanced Micro Devices (AMD), Micron Technology (MU), Intel (INTC), Alibaba Group (BABA), Cisco Systems (CSCO), QUALCOMM (QCOM), Walt Disney (DIS) and Skyworks Solutions (SWKS).

Ciena trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIEN."

Ciena's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (11.33%), FMR LLC (5.90%), Providence Capital Advisors LLC (3.97%), State Street Corp (2.86%), Bank of America Corp DE (2.72%) and Neuberger Berman Group LLC (2.51%). Insiders that own company stock include Andrew C Petrik, Andrew C Petrik, Bruce L Claflin, David M Rothenstein, David M Rothenstein, Gary B Smith, Gary B Smith, Gary E Dickerson, James E Moylan Jr, James E Moylan, Jr, Jason Phipps, Joseph Cumello, Joseph Gebbia, Judith M Obrien, Patrick H Nettles, Rick Hamilton, Scott Mcfeely, Stephen B Alexander, Stephen B Alexander and Thomas Michael Nevens.
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Shares of CIEN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CIEN stock can currently be purchased for approximately $48.13.

Ciena (NYSE:CIEN) has a market capitalization of $7.18 billion and generates $3.63 billion in revenue each year. The communications equipment provider earns $152.90 million in net income (profit) each year or $1.22 on an earnings per share basis.

The company employs 8,079 workers across the globe.

Ciena's mailing address is 7035 RIDGE ROAD, HANOVER MD, 21076. The official website for the company is www.ciena.com. The communications equipment provider can be reached via phone at (410) 694-5700, via email at ir@ciena.com, or via fax at 410-694-5750.