Ciena (CIEN) stock rallied on Thursday after the networking technology and software services company released its Fiscal Q3 2025 earnings report. That report started with adjusted earnings per share of 67 cents, compared to Wall Street’s estimate of 53 cents. Its adjusted EPS also increased 91.4% year-over-year from 35 cents.
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Ciena reported revenue of $1.22 billion in its latest earnings report, which beat analysts’ estimate of $1.17 billion. This also represented revenue growth of 29.5% year-over-year from $942.3 million. That was fueled by strong increases in Optical Networking revenue, which accounted for 66.9% of the company’s total revenue.
Ciena stock was up 27.27% on Thursday, extending a 42.29% year-to-date rally. The shares have also increased 80.85% over the past 12 months.

Ciena Guidance
Ciena provided investors with guidance in its latest earnings report. The company expects revenue in Fiscal Q4 2025 to range from $1.24 billion to $1.32 billion. Even at the low end of that outlook, the company is set to beat Wall Street’s revenue estimate of $1.21 billion for the period.
Ciena also included other Fiscal Q4 2025 guidance in its earnings report. That includes an adjusted gross margin of 42% to 43% and adjusted operating expenses of $390 million to $400 million.
Is Ciena Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Ciena is Moderate Buy, based on nine Buy, three Hold, and a single Sell rating over the past three months. With that comes an average CIEN stock price target of $92.33, representing a potential 22.75% downside for the shares. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
