Price Target Update on Ciena Corporation (NYSE:CIEN)

Ciena Corporation (NYSE:CIEN) : The highest level Ciena Corporation (NYSE:CIEN) is projected to reach is $33 for the short term and the lowest estimate is at $17. The consolidated price target from 12 rating analysts who initiate coverage on the stock is $24.88 and the possibility the share price can swing is $4.01.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Citigroup maintains its rating on Ciena Corporation (NYSE:CIEN).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $18 per share to $21 per share. The rating by the firm was issued on June 3, 2016.

Ciena Corporation (NYSE:CIEN): stock turned positive on Thursday. Though the stock opened at $20.24, the bulls momentum made the stock top out at $20.59 level for the day. The stock recorded a low of $20.19 and closed the trading day at $20.59, in the green by 2.39%. The total traded volume for the day was 2,435,680. The stock had closed at $20.11 in the previous days trading.

The company shares have dropped -19.78% from its 1 Year high price. On Jul 24, 2015, the shares registered one year high at $26.50 and the one year low was seen on May 13, 2016. The 50-Day Moving Average price is $18.34 and the 200 Day Moving Average price is recorded at $18.60. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Moylan James E Jr, officer (SVP Finance, CFO) of Ciena Corp, had unloaded 2,000 shares at an average price of $20.73 in a transaction dated on June 16, 2016. The total value of the transaction was worth $41,460.

Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company operates in four segments: converged packet optical, packet networking, optical transport, and software and services. Its service provider customers include regional, national and international, wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications, including Planet Orchestrate and Planet Operate, as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications, V-WAN, Agility Matrix and network management solutions.

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