P/E Ratio Insights for Ciena
Portfolio Pulse from Benzinga Insights
Ciena Inc. (NYSE:CIEN) has seen a significant stock price increase, with a 23.69% rise over the past month and 47.08% over the past year. Despite this, its P/E ratio of 67.65 is lower than the industry average of 147.06, suggesting potential undervaluation or lower growth expectations compared to peers.
October 08, 2024 | 8:00 pm
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Ciena Inc.'s stock has increased significantly, but its P/E ratio is lower than the industry average, indicating potential undervaluation or lower growth expectations.
Ciena's stock price has risen significantly, which is positive for short-term investors. However, its P/E ratio is lower than the industry average, suggesting it might be undervalued or have lower growth expectations. This could attract investors looking for undervalued stocks, potentially driving the price up further.
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