Today Cowen & Co. Reiterates a “Buy” Rating on Ciena Corp (NYSE:CIEN) and a $36.0 Target Price

January 22, 2018 - By Hazel Jackson

 Today Cowen & Co. Reiterates a

Investors sentiment decreased to 1 in Q3 2017. Its down 0.26, from 1.26 in 2017Q2. It dived, as 46 investors sold Ciena Corporation shares while 79 reduced holdings. 31 funds opened positions while 94 raised stakes. 148.04 million shares or 3.07% more from 143.63 million shares in 2017Q2 were reported.

Texas Permanent School Fund stated it has 0.03% in Ciena Corporation (NYSE:CIEN). California State Teachers Retirement System accumulated 0.01% or 226,037 shares. Moreover, Finance Pro has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 1,000 shares. Walleye Trading Limited holds 155,109 shares or 0.02% of its portfolio. Gemmer Asset Llc has 313 shares. Jane Street Limited Com holds 0.01% in Ciena Corporation (NYSE:CIEN) or 92,857 shares. Citadel Advsrs Ltd Liability holds 3.03M shares. Bridgeway Cap Mngmt has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Broadview Llc has 609,800 shares for 1.95% of their portfolio. Pub Employees Retirement Of Ohio invested in 1,399 shares. 613,604 were reported by Federated Invsts Pa. First Quadrant Lp Ca holds 8,332 shares or 0% of its portfolio. Moreover, Raymond James And Associate has 0% invested in Ciena Corporation (NYSE:CIEN) for 16,583 shares. Nelson Van Denburg And Campbell Wealth Grp Incorporated Limited Liability Com invested in 0% or 1 shares. Winch Advisory Svcs Limited Liability Com has invested 0% in Ciena Corporation (NYSE:CIEN).

Since August 10, 2017, it had 0 insider buys, and 48 selling transactions for $3.29 million activity. $11,140 worth of stock was sold by HAMILTON RICK on Friday, September 22. $24,440 worth of Ciena Corporation (NYSE:CIEN) was sold by McFeely Scott on Tuesday, August 15. $64,876 worth of stock was sold by MOYLAN JAMES E JR on Thursday, September 21. On Monday, October 16 Rothenstein David M sold $43,115 worth of Ciena Corporation (NYSE:CIEN) or 2,000 shares. SMITH GARY B sold $176,224 worth of stock. 2,500 shares were sold by ALEXANDER STEPHEN B, worth $61,125.

Ciena Corp (NYSE:CIEN) Rating Reaffirmed

Stock analysts at Cowen & Co. now has a $36.0 target price on Ciena Corp (NYSE:CIEN). Cowen & Co. and their recent target price gives a potential upside of 65.67 % from the company’s last stock close. The rating has been revealed to investors in analysts report on Tuesday morning.

Investors sentiment decreased to 1 in Q3 2017. Its down 0.26, from 1.26 in 2017Q2. It dived, as 46 investors sold Ciena Corporation shares while 79 reduced holdings. 31 funds opened positions while 94 raised stakes. 148.04 million shares or 3.07% more from 143.63 million shares in 2017Q2 were reported.

Texas Permanent School Fund stated it has 0.03% in Ciena Corporation (NYSE:CIEN). California State Teachers Retirement System accumulated 0.01% or 226,037 shares. Moreover, Finance Pro has 0.01% invested in Ciena Corporation (NYSE:CIEN) for 1,000 shares. Walleye Trading Limited holds 155,109 shares or 0.02% of its portfolio. Gemmer Asset Llc has 313 shares. Jane Street Limited Com holds 0.01% in Ciena Corporation (NYSE:CIEN) or 92,857 shares. Citadel Advsrs Ltd Liability holds 3.03M shares. Bridgeway Cap Mngmt has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Broadview Llc has 609,800 shares for 1.95% of their portfolio. Pub Employees Retirement Of Ohio invested in 1,399 shares. 613,604 were reported by Federated Invsts Pa. First Quadrant Lp Ca holds 8,332 shares or 0% of its portfolio. Moreover, Raymond James And Associate has 0% invested in Ciena Corporation (NYSE:CIEN) for 16,583 shares. Nelson Van Denburg And Campbell Wealth Grp Incorporated Limited Liability Com invested in 0% or 1 shares. Winch Advisory Svcs Limited Liability Com has invested 0% in Ciena Corporation (NYSE:CIEN).

Since August 10, 2017, it had 0 insider buys, and 48 selling transactions for $3.29 million activity. $11,140 worth of stock was sold by HAMILTON RICK on Friday, September 22. $24,440 worth of Ciena Corporation (NYSE:CIEN) was sold by McFeely Scott on Tuesday, August 15. $64,876 worth of stock was sold by MOYLAN JAMES E JR on Thursday, September 21. On Monday, October 16 Rothenstein David M sold $43,115 worth of Ciena Corporation (NYSE:CIEN) or 2,000 shares. SMITH GARY B sold $176,224 worth of stock. 2,500 shares were sold by ALEXANDER STEPHEN B, worth $61,125.

Ciena Corporation (NYSE:CIEN) Ratings Coverage

Among 23 analysts covering Ciena (NYSE:CIEN), 20 have Buy rating, 0 Sell and 3 Hold. Therefore 87% are positive. Ciena has $3600 highest and $17 lowest target. $27.75’s average target is 27.70% above currents $21.73 stock price. Ciena had 80 analyst reports since August 18, 2015 according to SRatingsIntel. On Wednesday, January 27 the stock rating was initiated by Citigroup with “Neutral”. Deutsche Bank downgraded the stock to “Hold” rating in Friday, September 4 report. William Blair maintained the shares of CIEN in report on Sunday, August 27 with “Buy” rating. Morgan Stanley initiated the stock with “Equal-Weight” rating in Friday, October 9 report. On Friday, April 8 the stock rating was initiated by Drexel Hamilton with “Buy”. RBC Capital Markets maintained the shares of CIEN in report on Friday, December 11 with “Outperform” rating. The firm has “Neutral” rating by Bank of America given on Friday, March 3. Stifel Nicolaus maintained Ciena Corporation (NYSE:CIEN) rating on Thursday, August 31. Stifel Nicolaus has “Buy” rating and $30.0 target. The firm has “Buy” rating by UBS given on Friday, June 2. Jefferies maintained Ciena Corporation (NYSE:CIEN) on Monday, December 4 with “Buy” rating.

The stock decreased 0.55% or $0.12 during the last trading session, reaching $21.73. About 829,973 shares traded. Ciena Corporation (NYSE:CIEN) has risen 44.43% since January 22, 2017 and is uptrending. It has outperformed by 27.73% the S&P500.

Analysts await Ciena Corporation (NYSE:CIEN) to report earnings on March, 14. They expect $0.07 EPS, down 61.11 % or $0.11 from last year’s $0.18 per share. CIEN’s profit will be $10.06M for 77.61 P/E if the $0.07 EPS becomes a reality. After $0.40 actual EPS reported by Ciena Corporation for the previous quarter, Wall Street now forecasts -82.50 % negative EPS growth.

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company has market cap of $3.12 billion. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching. It has a 2.89 P/E ratio. The Company’s products include 6500 Packet-Optical Platform and the 5430 Reconfigurable Switching System, Waveserver stackable interconnect system, CoreDirector Multiservice Optical Switches, and OTN configuration for the 5410 Reconfigurable Switching System, as well as Z-Series Packet-Optical Platform; 3000 family of service delivery switches and service aggregation switches, and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and the Ethernet packet configuration for the 5410 Service Aggregation Switch; and 4200 Advanced Services Platform, 5100/5200 Advanced Services Platform, Common Photonic Layer, and 6100 Multiservice Optical Platform.

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