Ciena Corporation (CIEN) Receives Price Target

Ciena Corporation (CIEN) : Average target price received by Ciena Corporation (CIEN) is $24.36 with an expected standard deviation of $3.61. The most aggressive target on the stock is $33, whereas the most downbeat target is $19. 11 financial analysts are currently covering the stock.

Ciena Corporation (CIEN) : The consensus on Ciena Corporation (CIEN) based on 13 analyst recommendation on the company stock is 1.38, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 analyst believes that the stock is a Buy, which can produce decent returns in the future. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.


Also, Citigroup maintains their rating on the shares of Ciena Corporation (NYSE:CIEN). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $23 per share from $21 per share. The rating by the firm was issued on August 25, 2016.

Ciena Corporation (NYSE:CIEN): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.32 and $22.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.17, notching a gain of 8.02% for the day. The total traded volume was 12,256,635 . The stock had closed at $21.45 on the previous day.

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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