Ciena Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
Ciena Corporation reported a 19.3% YoY revenue growth of $1.13 billion in Q2 FY23, beating consensus estimates. Despite better-than-expected earnings, Ciena's shares fell 10.8%. Analysts from Raymond James, Barclays, Needham, Rosenblatt, and UBS have cut their price targets on the stock.
June 07, 2023 | 12:44 pm
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Ciena's Q2 revenue growth beat estimates, but its shares fell 10.8%. Analysts have cut their price targets, potentially impacting the stock's short-term performance.
Ciena's better-than-expected Q2 earnings were overshadowed by a 10.8% drop in share price. Analysts from multiple firms have cut their price targets, which could lead to a negative short-term impact on the stock as investors may perceive this as a sign of reduced growth potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100