Ciena - CIEN Stock Forecast, Price & News

15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last year. There are currently 2 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CIEN shares.
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15 Wall Street research analysts have issued twelve-month price objectives for Ciena's stock. Their CIEN share price forecasts range from $45.00 to $76.00. On average, they anticipate the company's share price to reach $63.06 in the next year. This suggests a possible upside of 24.4% 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 stock has decreased by 0.5% and is now trading at $50.71.
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Ciena saw a increase in short interest in the month of December. As of December 30th, there was short interest totaling 3,900,000 shares, an increase of 9.9% from the December 15th total of 3,550,000 shares. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.7% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, March 6th 2023.
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Ciena Co. (NYSE:CIEN) issued its quarterly earnings data on Thursday, December, 8th. The communications equipment provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.56. The communications equipment provider earned $971 million during the quarter, compared to analysts' expectations of $847.83 million. Ciena had a net margin of 4.21% and a trailing twelve-month return on equity of 7.57%. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS.

Ciena updated its FY 2023 earnings guidance on Friday, December, 9th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $4.21 billion-$4.29 billion, compared to the consensus revenue estimate of $4.04 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 many different institutional and retail investors. Top institutional investors include Congress Asset Management Co. MA (2.19%), Natixis Advisors L.P. (0.59%), Artemis Investment Management LLP (0.30%), Peregrine Capital Management LLC (0.24%), Boston Common Asset Management LLC (0.23%) and Trinity Street Asset Management LLP (0.21%). 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 Gebbia, Judith M Obrien, Patrick H Nettles, Rick Hamilton, Scott Mcfeely, Stephen B Alexander and Stephen B Alexander.
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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 $50.71.

Ciena (NYSE:CIEN) has a market capitalization of $7.53 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 $1.00 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.