Ciena Corporation (CIEN) : Analyst Rating Update

Ciena Corporation (CIEN) : 14 analysts are covering Ciena Corporation (CIEN) and their average rating on the stock is 1.36, which is read as a Strong Buy. 10 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Ciena Corporation (CIEN) also receives 3 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Ciena Corporation (CIEN) : Average target price received by Ciena Corporation (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 (NYSE:CIEN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.89 and $17.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.09, notching a gain of 0.50% for the day. The total traded volume was 3,296,076 . The stock had closed at $18.00 on the previous day.

Also, Citigroup maintains its view on Ciena Corporation (NYSE:CIEN) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Citigroup raises the price target from $18 per share to $21 per share on Ciena Corporation. The rating by the firm was issued on June 3, 2016. The company shares have dropped -22.48% 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 $19.04 and the 200 Day Moving Average price is recorded at $18.43.

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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