Professional
Added to YB: 2024-06-14
Pitch date: 2024-06-07
CIEN [bullish]
Ciena Corporation
+380.19%
current return
Author Info
No bio for this author
Company Info
Ciena Corporation, a network technology company, provides hardware, software, and services for various network operators in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and India.
Market Cap
$31.3B
Pitch Price
$45.02
Price Target
76.00 (-65%)
Dividend
N/A
EV/EBITDA
77.65
P/E
226.47
EV/Sales
6.93
Sector
Communications Equipment
Category
value
Ciena Corporation: Signs of service provider demand recovery
CIEN: Q2 rev -20% YoY but beat, EPS $0.27 vs $0.15 est. FY24 rev guide low-end $4-4.3B (implies -9%) on slow telco recovery. Position to gain from AI & cloud (50%+ rev). H2 to see sequential growth & margin expand. Differentiated tech: WL6e 800G avail. 2024, enabling share gains. Stock cheap at 15x FY25 EPS. $76 PT on growth outlook & discount to comps/history. Risks: Slow telco, execution in new markets.
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