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Ciena Corporation (NYSE: CIEN) announced fiscal 2029 targets at its Investor Forum in Ottawa on September 16, 2026, projecting a revenue compound annual growth rate of roughly 30% and an adjusted gross margin of approximately 50%.
These long-range figures followed third-quarter fiscal 2026 results reported on September 3, where revenue rose 37% year-over-year to $1.67 billion and adjusted earnings per share more than tripled to $2.11.
The September 4 post-earnings reaction was mixed as analysts weighed the immediate beat against supply constraints.
TD Cowen cut its price target sharply to $400 from $575 while keeping a Buy rating, describing the guidance as "seemingly disappointing to bulls." B.
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