Ciena Reports Fiscal Second Quarter 2024 Financial Results
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Argus Reiterates Buy Rating on CIENA (CIEN)
June 7, 2024 9:15 AM EDTArgus analyst Jim Kelleher reiterated a Buy rating and $76.00 price target on CIENA (NYSE: CIEN).
The analyst comments "Signs of service provider demand recovery. Ciena exceeded revenue and non-GAAP EPS expectations for fiscal 2Q24. The company guided full-year FY24 total... More
BofA Securities Reiterates Buy Rating on CIENA (CIEN)
June 7, 2024 4:54 AM EDTBofA Securities analyst Tal Liani reiterated a Buy rating and $59.00 price target on CIENA (NYSE: CIEN)
The analyst comments "Revenue of $910.8mn was higher than Streets expectations of $894.9mn, yet still reflecting a 19.6% decline YoY, mostly on lower service provider revenues. EPS was strong,... More
Stifel Reiterates Buy Rating on CIENA (CIEN)
June 6, 2024 2:57 PM EDTStifel analyst Ruben Roy reiterated a Buy rating and $62.00 price target on CIENA (NYSE: CIEN).
The analyst comments "CIEN reported F2Q results ahead of expectations but provided a F3Q outlook below consensus estimates as inventory digestion at large telecom SPs continues.... More
Evercore ISI Reiterates Outperform Rating on CIENA (CIEN)
June 6, 2024 10:51 AM EDTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $60.00 price target on CIENA (NYSE: CIEN).
The analyst comments "CIEN reported April-qtr results with rev/EPS of $911M/0.27 vs. street at $896M/0.15 Overall sales were down ~20% y/y driven by declines in telco (-25%), cable (-29%) and webscale (-9%) verticals. Though worth noting CIEN is seeing initial signs of demand stability with telco... More
Ciena (CIEN) Tops Q2 EPS by 13c
June 6, 2024 7:05 AM EDTCiena (NYSE: CIEN) reported Q2 EPS of $0.27, $0.13 better than the analyst estimate of $0.14. Revenue for the quarter came in at $910.8 million versus the consensus estimate of $895.8 million.
For earnings history and earnings-related data on Ciena (CIEN) click here.
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