Short Term Price Target on Ciena Corporation (CIEN)

Ciena Corporation (NYSE:CIEN) : Average target price received by Ciena Corporation (NYSE:CIEN) is $24.88 with an expected standard deviation of $4.01. The most aggressive target on the stock is $33, whereas the most downbeat target is $17. 12 financial analysts are currently covering the stock.

Ciena Corporation has dropped 8.94% in the last five trading days, however, the shares have posted positive gains of 5.57% in the last 4 weeks. Ciena Corporation has dropped 0.53% during the last 3-month period . Year-to-Date the stock performance stands at -9.38%. Also, Citigroup maintains its rating on Ciena Corporation (NYSE:CIEN). The global brokerage major raises the current price target from $18 per share to $21 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on June 3, 2016.

Ciena Corporation (NYSE:CIEN) has an average broker rating of 1.36, which is interpreted as a Strong Buy, as rated by 14 equity analysts. Nonetheless, 10 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 3 other analysts advise a Buy. Nevertheless, the majority of 1 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Ciena Corporation (NYSE:CIEN): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.66 and $18.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.75, notching a gain of 0.59% for the day. The total traded volume was 2,936,318 . The stock had closed at $18.64 on the previous day.

In an insider trading activity, Locoh-Donou Francois, officer (Chief Operating Officer) of Ciena Corp, unloaded 3,239 shares at an average price of $20.4 on June 21, 2016. The total amount of the transaction was worth $66,076, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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