These Analysts Revise Their Forecasts On Ciena After Q2 Results
Portfolio Pulse from Avi Kapoor
Ciena Corp (NYSE:CIEN) reported better-than-expected Q2 results with a revenue decline of 19.6% year-on-year to $910.80 million and an adjusted EPS of 27 cents. Analysts revised their price targets and ratings for Ciena following the results.
June 07, 2024 | 12:37 pm
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Ciena Corp reported better-than-expected Q2 results with a revenue of $910.80 million and an adjusted EPS of 27 cents. Analysts revised their price targets and ratings, with Needham cutting the target from $65 to $60, Rosenblatt raising it from $52.5 to $54, and Raymond James downgrading the stock from Strong Buy to Outperform while lowering the target from $59 to $54.
Ciena's better-than-expected Q2 results and the subsequent revisions in price targets and ratings by analysts are likely to have a positive short-term impact on the stock. The mixed analyst ratings, with some downgrades and some target increases, suggest a cautious optimism.
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