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CIEN LATEST HEADLINES
Ciena (CIEN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Ciena's (CIEN) fiscal first-quarter performance is likely to have been affected due to rising customer inventory levels owing to reduced spending by buyers amid economic troubles.
Evaluate the expected performance of Ciena (CIEN) for the quarter ended January 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
AIRI, CIEN and HTBK have been added to the Zacks Rank #5 (Strong Sell) List on February 6, 2023.
Ciena's (CIEN) WaveLogic 6 Extreme is being utilized by Southern Cross to address the growing international connectivity.
Overall, technology as a sector impressed in 2023. While that might be a temptation to rotate to laggards, sticking with tech stocks in 2024 could be rewarding.
Ciena's (CIEN) GeoMesh Extreme is being utilized by BW Digital to address the growing international connectivity demands.
Given its better prospects, we believe Ciena stock (NYSE: CIEN), a network hardware, software, and services provider, is a better pick than its sector peer, F5 Networks stock (NASDAQ NDAQ : FFIV), an application security and cloud networking company. Investors have assigned a higher valuation multiple of 3.7x revenues for FFIV compared to 1.5x revenues for CIEN due to F5's superior revenue growth and profitability.
Ciena is the technological leader in the coherent optical space, with a track record of outpacing the competition both in terms of product innovation and market share. Ciena should benefit from the increasing demand for internet bandwidth, potential margin expansion, and the rise of AI. The company is trading at 15x P/E 2024 adjusted EPS. An acceleration in business from H1 2024 onwards should drive earnings improvement and subsequently investor interest in the stock.
Ciena's (CIEN) fiscal fourth-quarter performance is driven by increasing demand momentum, especially from cloud provider customers.