William Blair Thinks Ciena Corp’s Stock is Going to Recover

By Austin Angelo

William Blair analyst Dmitry Netis reiterated a Buy rating on Ciena Corp (NYSE: CIEN) today. The company’s shares opened today at $19.76, close to its 52-week low of $19.49.

According to TipRanks.com, Netis is a 4-star analyst with an average return of 5.9% and a 52.2% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Juniper Networks, and Arista Networks.

Currently, the analyst consensus on Ciena Corp is Strong Buy and the average price target is $29.50, representing a 49.3% upside.

In a report issued on October 31, Cowen & Co. also reiterated a Buy rating on the stock with a $36 price target.

The company has a one-year high of $27.98 and a one-year low of $19.49. Currently, Ciena Corp has an average volume of 3.43M.

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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.