Needham analyst Ryan Koontz maintained a Buy rating on Ciena (CIEN – Research Report) today and set a price target of $90.00.
Ryan Koontz has given his Buy rating due to a combination of factors including Ciena’s strong financial performance in the first quarter of fiscal year 2025, where both revenue and non-GAAP EPS exceeded market expectations. The company also raised its full-year revenue guidance, indicating confidence in its future growth prospects.
Ciena’s strength in North America and service provider segments, along with robust bookings, particularly from cloud services, contribute to a positive outlook. Despite some non-recurring benefits in the first quarter, the company’s execution, leading technology, and strong customer relationships are expected to help it capture more market share in its core areas. However, there is some caution regarding its new product segments, and the price target was slightly reduced due to broader market conditions affecting technology stocks.
In another report released yesterday, Raymond James also maintained a Buy rating on the stock with a $79.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com