Ciena Corp. (NYSE:CIEN) on Thursday reported better-than-expected earnings for its fiscal third quarter.
Revenue rose 37% year over year to $1.671 billion from $1.219 billion, beating the analyst consensus estimate of $1.633 billion. Adjusted diluted EPS rose about 215% to $2.11 from 67 cents, exceeding the analyst consensus estimate of $1.73.
For the fiscal fourth quarter, Ciena expects revenue of $1.7 billion to $1.8 billion, compared with the analyst estimate of $1.702 billion. Ciena raised its fiscal 2026 revenue outlook to $6.37 billion-$6.47 billion from $6.2 billion-$6.4 billion. The new range compares with the analyst consensus estimate of $6.336 billion.
“Today’s outstanding financial performance demonstrates Ciena’s leadership in providing industry-leading, high-speed connectivity solutions as AI continues to drive compounding waves of network investment,” said Gary Smith, president and CEO, Ciena. “As the only pure-play optical systems and interconnects provider, Ciena’s unmatched combination of incumbency, technology innovation, and deep expertise gives us a powerful competitive edge.”
Ciena shares rose 3.2% to trade at $326.50 on Friday.
These analysts made changes to their price targets on Ciena following earnings announcement.
- Rosenblatt analyst Mike Genovese maintained the stock with a Buy and lowered the price target from $720 to $525.
- Barclays analyst Tim Long maintained the stock with an Overweight rating and cut the price target from $607 to $475.
- TD Cowen analyst Sean O’Loughlin maintained the stock with a Buy and lowered the price target from $575 to $400.
Considering buying CIEN stock? Here’s what analysts think:
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