Barclays analyst Tim Long maintained a Buy rating on Ciena Corp (CIEN) on August 7 and set a price target of $50. The company’s shares closed on Friday at $43.65, close to its 52-week high of $46.78.
According to TipRanks.com, Long is a 5-star analyst with an average return of 19.1% and a 64.4% success rate. Long covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Keysight Technologies, and Dell Technologies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ciena Corp with a $50.13 average price target.
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Based on Ciena Corp’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $52.74 million. In comparison, last year the company had a net profit of $50.84 million.
Based on the recent corporate insider activity of 169 insiders, corporate insider sentiment is negative on the stock.
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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.