William Blair analyst Dmitry Netis maintained a Buy rating on Ciena Corp (NYSE: CIEN) today. The company’s shares opened today at $30.97, close to its 52-week high of $32.23.
According to TipRanks.com, Netis is a 5-star analyst with an average return of 12.1% and a 59.8% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Acacia Communications, and Juniper Networks.
Currently, the analyst consensus on Ciena Corp is a Strong Buy with an average price target of $34.23, which is a 10.5% upside from current levels. In a report issued on August 27, B.Riley FBR also maintained a Buy rating on the stock with a $31.50 price target.
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Ciena Corp’s market cap is currently $4.4B and has a P/E ratio of 6.79. The company has a Price to Book ratio of 2.53.
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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.
