Why Ciena Rocketed Higher This Week
Shares of (NYSE: CIEN) rallied 23.9% this week through 1:46 p.m. ET Friday, according to data from S&P Global Market Intelligence.
Ciena is a leader in optical transceivers and other IP networking and routing hardware and software. That's a market that has typically served large telecom players, but which has now reaccelerated in the age of artificial intelligence (AI), and the increased networking demands required for it.
On Thursday, Ciena showed off a new AI-powered acceleration, delivering fiscal third-quarter results that handily beat analyst expectations.
Source Fool.com
Ciena Corp. Stock
€191.60
-13.650%
The stock is one of the favorites of our community with 36 Buy predictions and 2 Sell predictions.
As a result the target price of 218 € shows a slightly positive potential of 13.78% compared to the current price of 191.6 € for Ciena Corp..
