Ciena is a communication equipment company located in Maryland, United States, which is part of the Technology sector, and is traded under the ticker CIEN on the NYSE exchange.
Ciena stock last closed at $45.04, up 0.72% from the previous day, and has decreased 3.29% in one year. It has overperformed other stocks in the Communication Equipment industry by 0.15 percentage points. Ciena stock is currently +12.77% from its 52-week low of $39.94, and -28.78% from its 52-week high of $63.24.
As of Apr 24, 2024, there are 144.6M CIEN shares outstanding. The market capitalization of CIEN is $6.51B. In the last 24 hours, 1.28M CIEN shares were traded.
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Once you have selected the best place to buy Ciena stock, it's important to analyze their stock before you buy, so you actually wrap your head around the risk and opportunity.
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You can see all of the due diligence checks on CIEN's stock page.
You can use many financial metrics, analyses, models, and charts to gauge CIEN's fair value.
Using relative valuations metrics:
You can access more valuation research on CIEN's stock here.
Out of 9 Equities analysts who give recommendations on CIEN, the consensus analyst rating on Ciena is a Strong Buy
Please note that analyst ratings are not recommendations, nor are they investment advice.
Samik Chatterjee, a top 8% analyst from JP Morgan maintains CIEN with a strong buy rating and raises their CIEN price target from $56.00 to $67.00, on Mar 5, 2024.
JP Morgan's Samik Chatterjee raised their price target on Ciena (NYSE: CIEN) by 19.6% from $56 to $67 on 2024/03/05. The analyst maintained their Strong Buy rating on the stock.
Just ahead of the 2024/03/07 release of Ciena's Q1 2024 earnings report, Chatterjee predicted "beats against estimates" that are likely to advance the bull case that "all hardware and networking companies with datacenter exposure will have upside from the AI investment cycle, irrespective of whether they are positioned inside or outside datacenters."
The analyst added that they expect results that "in part justify Ciena's premium valuation relative to historical levels."
Yahoo Finance reports that the current consensus EPS estimate for Ciena's Q1 is $.047 which, if achieved, would represent a 26.6% decline from Q1 2023's $0.64.
For Q1 2024, Ciena reported:
Management guided:
For Q2 2024:
For FY 2024:
President & CEO Gary Smith commented: "We delivered solid Q1 results, including strong profitability, as we continue to expand our relationships and gain share with cloud providers.
"While we remain very confident in the strength and durability of bandwidth demand as a long-term driver of our business, it is taking longer than expected for service providers to work through high levels of inventory."
Amit Daryanani, a top 4% analyst from Evercore ISI Group maintains CIEN with a buy rating and raises their CIEN price target from $57.00 to $63.00, on Feb 23, 2024.
Dave Kang, a top 15% analyst from B. Riley Securities maintains CIEN with a strong buy rating and raises their CIEN price target from $67.00 to $68.00, on Dec 8, 2023.
Simon Leopold, a top 13% analyst from Raymond James maintains CIEN with a strong buy rating and lowers their CIEN price target from $63.00 to $60.00, on Dec 8, 2023.
You can dive deeper into what analysts are saying on the Ciena stock forecast page.
Last year, CIEN earnings were $228.13M. Over the last five year, CIEN's earnings have grown by 6.91% per year. This was faster than the Communication Equipment industry average of 5.45%.
Last year, CIEN revenue was $4.37B. During the last five year, CIEN's revenue has grown by 6.24% per year. This was faster than the Communication Equipment industry average of 3.95%.
Dive into CIEN's earnings and revenue performance here.
Over the last 12 months, insiders at CIEN have sold more shares than they have bought.
Joseph Cumello, SVP General Mgr. Blue Planet of CIEN, was the latest CIEN insider to sell. They sold $144,355.44 worth of CIEN shares on Apr 15, 2024.
Research more about who owns CIEN stock here.
No, Ciena doesn't provide an income stream by paying out dividends.
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