On March 29, 2023,
Morgan Stanley
downgraded
their outlook for Ciena (NYSE:CIEN) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 27.60% Upside
As of March 29, 2023,
the average one-year price target for Ciena is $64.91.
The forecasts range from a low of $45.45 to a high of $90.30.
The average price target represents an increase of 27.60% from its latest reported closing price of $50.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ciena
is $4,290MM, an increase of 11.58%.
The projected annual non-GAAP EPS
is $2.68.
What are Large Shareholders Doing?
IJH – iShares Core S&P Mid-Cap ETF
holds 4,575K shares
representing 3.07% ownership of the company.
In it’s prior filing, the firm reported owning 4,375K shares, representing
an increase
of 4.37%.
The firm
increased
its portfolio allocation in CIEN by 15.09% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 4,506K shares
representing 3.02% ownership of the company.
In it’s prior filing, the firm reported owning 4,463K shares, representing
an increase
of 0.94%.
The firm
increased
its portfolio allocation in CIEN by 17.56% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares
holds 3,817K shares
representing 2.56% ownership of the company.
In it’s prior filing, the firm reported owning 3,801K shares, representing
an increase
of 0.41%.
The firm
increased
its portfolio allocation in CIEN by 17.22% over the last quarter.
Bank Of America
holds 3,628K shares
representing 2.43% ownership of the company.
In it’s prior filing, the firm reported owning 3,984K shares, representing
a decrease
of 9.81%.
The firm
decreased
its portfolio allocation in CIEN by 99.89% over the last quarter.
Alliancebernstein
holds 3,476K shares
representing 2.33% ownership of the company.
In it’s prior filing, the firm reported owning 4,412K shares, representing
a decrease
of 26.93%.
The firm
decreased
its portfolio allocation in CIEN by 21.08% over the last quarter.
What is the Fund Sentiment?
There are 953 funds or institutions reporting positions in Ciena.
This is a decrease
of
5
owner(s) or 0.52% in the last quarter.
Average portfolio weight of all funds dedicated to CIEN is 0.36%,
an increase
of 18.74%.
Total shares owned by institutions decreased
in the last three months by 1.46% to 163,700K shares.
The put/call ratio of CIEN is 0.45, indicating a
bullish
outlook.
CIENA Background Information
(This description is provided by the company.)
Ciena is a networking systems, services and software company. The Company provides solutions that help its customers create the Adaptive Network™ in response to the constantly changing demands of their end-users. By delivering best-in-class networking technology through high-touch consultative relationships, the Company builds the world’s most agile networks with automation, openness and scale.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
