Ciena (CIEN) Surges as Supply Chains Improve

Ciena rose 20.0% during the afternoon session to $51.87 per share after Barron's reported that "Profits Are Strong Because the Supply Chain Is Better. ..." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.

Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Ciena has a trailing 12 month P/E ratio of 22.9 and a P/B ratio of 3.1.

At today's price of $51.87 per share, Ciena is -10.38% away from its target price of $57.88, and on average, analysts give the stock a rating of buy. 3.8% of the company's shares are linked to short positions, and 94.7% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.