Ciena Corp Receives a Buy from William BlairBy Jason Carr
According to TipRanks.com, Netis is a 4-star analyst with an average return of 7.7% and a 54.1% success rate. Netis covers the Technology sector, focusing on stocks such as Interactive Intelligence, Juniper Networks, and Arista Networks.
Currently, the analyst consensus on Ciena Corp is Strong Buy and the average price target is $31, representing a 31.0% upside.
In a report issued on March 8, BMO Capital also reiterated a Buy rating on the stock with a $30 price target.
Based on Ciena Corp’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $621 million and quarterly net profit of $3.86 million. In comparison, last year the company earned revenue of $573 million and had a GAAP net loss of $11.55 million.
Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CIEN in relation to earlier this year. Most recently, in January 2017, Harvey Cash, a Director at CIEN sold 700 shares for a total of $16,996.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software. The Packet Networking segment includes service delivery switches, services aggregation switches, and ethernet packet configurations. The Optical Transport segment manufactures and trades optical transport systems, common photonic layer, data networking products, data center interconnection, and virtual networks. The Software and Services segment provides wide are network controller, network functions virtualization platform, and software applications. The company was founded by Patrick H. Nettles in November 1992 and is headquartered in Hanover, MD.