Needham Remains a Hold on Ciena (CIEN)

By Jason Carr

In a report released today, Alex Henderson from Needham maintained a Hold rating on Ciena (CIENResearch Report). The company’s shares closed last Monday at $35.00.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.5% and a 54.3% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Ceragon Networks.

Currently, the analyst consensus on Ciena is a Strong Buy with an average price target of $49.33.

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Ciena’s market cap is currently $5.41B and has a P/E ratio of 24.64. The company has a Price to Book ratio of 2.56.

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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.