Ciena Stock Price, News & Analysis (NYSE:CIEN)

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 3 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" CIEN shares.
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13 analysts have issued 1-year price objectives for Ciena's shares. Their CIEN share price targets range from $41.00 to $76.00. On average, they expect the company's share price to reach $61.94 in the next twelve months. This suggests a possible upside of 37.0% from the stock's current price.
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Ciena's stock was trading at $50.98 at the beginning of the year. Since then, CIEN shares have decreased by 11.3% and is now trading at $45.22.
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Ciena saw a decrease in short interest in November. As of November 15th, there was short interest totaling 3,730,000 shares, a decrease of 7.2% from the October 31st total of 4,020,000 shares. Based on an average daily trading volume, of 1,360,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.6% of the shares of the company are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, December 7th 2023.
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Ciena will be holding an earnings conference call on Thursday, December 7th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Ciena Co. (NYSE:CIEN) announced its earnings results on Thursday, August, 31st. The communications equipment provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The communications equipment provider earned $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Ciena had a net margin of 5.23% and a trailing twelve-month return on equity of 10.00%. The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS.

ETFs with the largest weight of Ciena (NYSE:CIEN) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), SPDR S&P Telecom ETF (XTL), Future Fund Long/Short ETF (FFLS), iShares U.S. Telecommunications ETF (IYZ), Future Fund Active ETF (FFND), iShares Future Cloud 5G and Tech ETF (IDAT), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) and First Trust Indxx NextG ETF (NXTG).

Ciena issued an update on its fourth quarter 2023 earnings guidance on Friday, September, 1st. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $1.06 billion-$1.14 billion, compared to the consensus revenue estimate of $1.10 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's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include FMR LLC (6.05%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (3.15%), Senvest Management LLC (1.62%), Diamond Hill Capital Management Inc. (1.56%), Victory Capital Management Inc. (1.53%) and Fort Pitt Capital Group LLC (1.34%). Insiders that own company stock include Andrew C Petrik, Andrew C Petrik, 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, 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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