Schaeffer's Top Stock Picks for '25

Ciena Stock Gets a Jolt After Earnings Beat

The company did see a slight drop in revenue from its last quarter

Digital Content Manager
Jun 3, 2021 at 9:40 AM
facebook X logo linkedin


The shares of Ciena Corporation (NYSE:CIEN) are getting a big boost this morning, last seen up 5.1% at $57.20, following the firm's fiscal second-quarter earnings report. The company reported 62 cents per share in earnings, easily topping analysts' estimates, while the $833.93 million in revenue just barely topped expectations. The networking systems company did see a 6.7% dip in its revenue, however. 

The equity has been rising on the charts for the better part of May, and recently found its footing at the 30-day moving average -- a previous area of  pressure. What's more, the stock topped yet another short-term ceiling at its $54 level, logging its highest close in over a month during yesterday's session.  CIEN is up 3% year-to-date, though it boasts a six-month return of 19.1%. 

Analysts were mostly optimistic ahead of Ciena's earnings event. Of the 14 in coverage 10 said "buy" or better, and four said "hold." Meanwhile, the 12-month consensus price target of $60.31 is a 5.3% premium to current levels. 

Option traders have been a bit more bearish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CIEN sports a 10-day put/call volume ratio of 0.83, which sits in the 84th percentile of its annual range. This implies puts are being picked up at a much quicker rate than usual. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));