A statement released earlier today by Stifel about Ciena (NYSE:CIEN) raises the target price to $23.00
- Updated: September 29, 2016
Just yesterday Ciena (NYSE:CIEN) traded -2.05% lower at $21.95. CIEN’s 50-day average is $21.82 and its two hundred day moving average is $19.35. The last stock close price is up 13.45% relative to the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same time. 1,708,430 shares of the stock were exchanged, down from an avg. volume of 2,792,170
Stifel upped the price target of Ciena (NYSE:CIEN) to $23.00 reporting a potential upside of 0.05%.
On Thursday September 08, 2016, Zacks Investment Research released a statement on Ciena (NYSE:CIEN) increased the target price from $0.00 to $25.00. At the time, this indicated a possible upside of 0.10%.
Recent Performance Chart
Ciena has a 52 week low of $15.62 and a one year high of $25.46 with a PE ratio of 135.49 The company’s market cap is currently $0.
In addition to Stifel reporting its stock price target, a total of 17 firms have reported on the stock. The consensus target price is $24.44 with six firms rating the stock a strong buy, twelve analysts rating the company a buy, 2 brokers rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 firms rating the company a sell.
More About Ciena (NYSE:CIEN)
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching. Its Optical Transport products include stand-alone wavelength-division multiplexing (WDM) and synchronous optical networking/synchronous digital hierarchy (SONET/SDH)-based optical transport solutions. Its Packet Networking portfolio includes 8700 Packetwave platform, a multi-terabit packet switching platform for high-density metro networks and inter-data center wide area networks. Its software business consists of the development and licensing of element and network management software, and software-related services that support its hardware offerings.
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