Rosenblatt Securities analyst Ryan Koontz maintained a Buy rating on Ciena (CIEN) today. The company’s shares closed last Wednesday at $56.31, close to its 52-week high of $57.19.
According to TipRanks.com, Koontz is a 5-star analyst with an average return of 24.6% and a 69.2% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Applied Optoelectronics, and Acacia Communications.
Ciena has an analyst consensus of Strong Buy, with a price target consensus of $54.10, a -3.0% downside from current levels. In a report issued on May 22, MKM Partners also maintained a Buy rating on the stock with a $62.00 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $57.19 and a one-year low of $30.58. Currently, Ciena has an average volume of 2.29M.
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. The Packet Networking segment includes service delivery switches, services aggregation switches, and ethernet packet configurations. The Optical Transport segment manufactures and trades optical transport systems, common photonic layer, data networking products, data center interconnection and virtual networks. The Software and Services segment provides wide area network controller, network functions virtualization platform, and software applications. The company was founded by Patrick H. Nettles in November 1992 and is headquartered in Hanover, MD.
