In a report released today, Ryan Koontz from Rosenblatt Securities maintained a Hold rating on Ciena Corp (CIEN), with a price target of $45. The company’s shares closed yesterday at $45.49, close to its 52-week high of $45.70.
According to TipRanks.com, Koontz is a 4-star analyst with an average return of 14.3% and a 66.7% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, CommScope Holding, and Juniper Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ciena Corp with a $47 average price target, implying a 3.3% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Hold rating on the stock with a $45 price target.
See today’s analyst top recommended stocks >>
Ciena Corp’s market cap is currently $7.11B and has a P/E ratio of 37.71. The company has a Price to Book ratio of 3.46.
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.
