Ciena Corporation (CIEN) : Zacks Investment Research ranks Ciena Corporation (CIEN) as 3, which is a Hold recommendation. 10 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 3 other analysts are mildly bullish on the stock and favor a Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 1.36, which indicates as a Strong Buy.
Ciena Corporation (CIEN) : The most positive equity analysts on Ciena Corporation (CIEN) expects the shares to touch $33, whereas, the least positive believes that the stock will trade at $17 in the short term. The company is covered by 12 Wall Street Brokerage Firms. The average price target for shares are $24.71 with an expected fluctuation of $4.05 from the mean.
For the current week, the company shares have a recommendation consensus of Buy. Ciena Corporation (NYSE:CIEN): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.54 and $20.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.60, notching a gain of 0.49% for the day. The total traded volume was 1,855,652 . The stock had closed at $20.50 on the previous day.
In a related news, 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 $18.55 in a transaction dated on July 28, 2016. The total value of the transaction was worth $37,100.
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.