Ciena saw an improvement in its IBD SmartSelect Composite Rating Friday, from 91 to 98.
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The revised score means the stock currently tops 98% of all other stocks in terms of key performance metrics and technical strength.
Ciena is currently extended beyond a proper buy zone after breaking out from an 86.21 entry in a consolidation.
The stock earns an 87 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 87% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q3, the company posted 91% earnings growth. That marks five straight quarters of rising EPS growth. Revenue growth increased 29%, up from 24% in the prior quarter. The company has now posted accelerating growth in each of the last five quarters.
Ciena holds the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings is the No. 1-ranked stock within the group.
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