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
€289.10
-3.270%
The stock is one of the favorites of our community with 34 Buy predictions and 3 Sell predictions.
However, we have a potential of -70.6% for Ciena Corp. as the target price of 85 € is below the current price of 289.1 €.
