Ciena (CIEN) Tops Q2 EPS by 13c
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June 10, 2024 8:53 AM EDT
CFRA analyst Keith Snyder lowered the price target on CIENA (NYSE: CIEN) to $50.00 (from $55.00) while maintaining a Hold rating.
The analyst comments "We cut our 12-month target price by $5 to $50, 17.4x our FY 25 (Oct.) EPS estimate, a discount to its five-year... More
June 7, 2024 9:15 AM EDT
Argus 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
June 7, 2024 4:54 AM EDT
BofA 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
June 6, 2024 2:57 PM EDT
Stifel 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
June 6, 2024 10:51 AM EDT
Evercore 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
