Ciena shares jump as cloud spending drives BofA upgrade [Yahoo! Finance]
Ciena Corporation (CIEN)
Last ciena corporation earnings: 3/5 07:00 am
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Source: Yahoo! Finance
Shares of Ciena Corporation (NYSE:CIEN) rose 3.3% Friday after Bank of America upgraded the optical networking company to Buy, citing surging demand from cloud data centers. The upgrade reflects expectations of continued strong spending by cloud providers, including hyperscalers, Tier-2 clouds, and emerging “Neoclouds,” which are adding significant data center capacity over the next three years. Bank of America said Ciena's portfolio, which includes 800G and 400G pluggables, line systems, and its recent acquisition Nubis, is well-positioned to capitalize on these growth opportunities. “Houston, it's too early to get cautious,” analysts wrote, noting that its previous caution on potential spending slowdowns in the networking sector was premature. Analysts highlighted that Ciena's FY26 revenue growth guidance has surged to 28% from 8% a year ago, with backlog rising $2 billion in a single quarter to $7 billion. Bank of America also flagged long-term opportunities in local area
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CIEN
News
- Ciena's Q1 Earnings & Revenues Beat, Surge Y/Y, Stock Falls [Yahoo! Finance]Yahoo! Finance
- Ciena (CIEN) had its price target raised by B. Riley Financial, Inc. from $222.00 to $283.00. They now have a "neutral" rating on the stock.MarketBeat
- Ciena (CIEN) had its price target raised by Citigroup Inc. from $280.00 to $345.00. They now have a "buy" rating on the stock.MarketBeat
- Ciena (CIEN) had its price target raised by Barclays PLC from $279.00 to $372.00. They now have an "overweight" rating on the stock.MarketBeat
- Ciena (CIEN) was given a new $350.00 price target by Rosenblatt Securities.MarketBeat
CIEN
Earnings
- 3/5/26 - Beat
CIEN
Sec Filings
- 3/5/26 - Form 10-Q
- 3/5/26 - Form 8-K
- 3/4/26 - Form 4
- CIEN's page on the SEC website