Ciena Stock Soars as Analysts Lift Price Targets Amid Fiscal 2029 Revenue Outlook

Ciena's stock price rose on Thursday after the company presented its financial targets at an investor forum.

The optical networking equipment maker expects revenue to grow at a compound annual growth rate of around 30% from fiscal 2026 through fiscal 2029, with projected revenue of approximately $14 billion in fiscal 2029.

Analysts were impressed by Ciena's long-term framework, which they believe incorporates a conservative view of data center opportunities.

Ciena management emphasized the company's continued supply constraints, which analysts said could affect its ability to meet demand.

Barclays analyst Tim Long noted that Ciena's fiscal 2027 outlook represents a 'supply floor', suggesting potential upside if component availability improves.