Buy This Networking Stock on the Verge of Breaking Out

Ciena (NYSE: CIEN) was down in the dumps late last year as a meaningful slowdown in orders amid the novel coronavirus pandemic had derailed the company's sales and earnings growth. The stock struggled as management pointed to uncertainty in the business environment due to a cautious spending approach adopted by service providers that negatively impacted the rollout of new networking infrastructure.

However, things are now looking up for Ciena. The company's latest quarterly results (released on Sept. 2) and guidance indicate that the business environment has improved, and it may not be long before the stock regains its former glory. Let's look closely at Ciena's performance last quarter and see why it would be a good idea to buy the stock now.

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Source Fool.com