Northland Securities Cuts Price Target on Ciena Corp. (CIEN)
Northland Securities lowered their price target on shares of Ciena Corp. (NASDAQ: CIEN) from $20.00 to $18.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock.
A number of other analysts have also recently weighed in on CIEN. Analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of Ciena Corp. in a research note to investors on Wednesday, May 30th. Separately, analysts at Needham & Company initiated coverage on shares of Ciena Corp. in a research note to investors on Wednesday, May 30th. They set a “buy” rating and a $16.00 price target on the stock. Finally, analysts at Raymond James (NYSE: RJF) downgraded shares of Ciena Corp. from a “strong-buy” rating to a “market perform” rating in a research note to investors on Thursday, April 5th.
Ciena Corp. opened at 12.68 on Friday. Ciena Corp. has a 1-year low of $9.89 and a 1-year high of $25.10. The company’s market cap is $1.257 billion.
Ciena Corp. last released its earnings data on Thursday, May 31st. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.03) by $0.07. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts expect that Ciena Corp. will post $0.13 EPS next quarter.
Ciena Corporation (Ciena) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.