CIEN|Earnings Snapshot
EPS
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q3'26 | $2.08 | - | - |
| Q2'26 | $1.49 | $1.64 | +10.4% |
| Q1'26 | $1.19 | $1.35 | +13.8% |
| Q4'24 | $0.41 | $0.64 | +54.7% |
Revenue
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q3'26 | $1.8B | - | - |
| Q2'26 | $1.5B | $1.6B | +2.4% |
| Q1'26 | $1.4B | $1.4B | +0.2% |
| Q4'24 | - | $1.1B | - |
CIEN|Monthly Returns
Market Data
CIEN Stock Snapshot
- Market cap
- 46.14B
- P/E ratio
- 70.5
- Day range
- $317.80 – $335.97
- News sentiment
- 68/100 · Bullish
- Analyst target
- $504.13 (+51.3%)
- Consensus
- Buy · 28 analysts
Price action on CIEN is defensive - rallies are being sold rather than extended. Sector peers are worth watching - large caps in Technology tend to move together on rotation.
Reverse DCF
What growth is priced into CIEN?
At today's price, Ciena Corporation needs to grow free cash flow about 59.3% a year for the next 10 years to justify its valuation at a 13.42% cost of capital. Over its actual history it has compounded free cash flow at 20.1% a year, so the market is asking for 39.2 percentage points above its own delivered rate. On that basis CIEN looks priced above what its own growth record supports.
- Implied FCF growth
- 59.3%
- Historical FCF CAGR
- 20.1%
- Growth gap
- +39.2 pts
- Verdict
- RICH
- Discount rate (WACC)
- 13.42%
- Beta
- 1.75
Behaviour On Record
What CIEN's own history says about today's numbers
- Realized volatility (21d)
- 90.0% 97th pct
- Below its peak
- -47.8%
- vs 200-day average
- -13.4%
- Up days (1y)
- 55%
Ciena Corporation is currently running 90.0% annualised volatility over the last 21 sessions. Measured against CIEN's own 13 years of daily returns rather than a market-wide average, that is the 97th percentile — an extreme by its own standards, against a typical reading of 35.7%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.
CIEN is trading -47.8% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -27.7%, and the deepest was -49.4% in 2022. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began — and where past declines also continued.
Price sits -13.4% from its 200-day moving average. Against every other day in its history, that gap ranks at the 10th percentile — a narrower gap than it typically runs. Over the past year CIEN closed higher on 55% of sessions, and it is currently 1 session into a rising streak.
On September specifically: over 14 years of records, CIEN finished the month higher 2 of 14 times, with a median return of -4.8% and an average of -2.7%. Its strongest month historically has been December at +10.3% on average, its weakest March at -4.9%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.
Overnight risk is measurable too: CIEN has opened more than 2% away from the prior close in 236 of 3,268 sessions (7.2% of the time), with the largest gaps running +8.3% and -9.5%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.
Across the last 3 dated reports on file, CIEN moved an average of 4.5% in the session after earnings, closing higher 1 of those 3 times, with a median move of -2.0% and a largest of -9.9%.
All figures computed from 3,269 daily closes between 2013-09-16 and 2026-09-15, split-adjusted, recomputed daily. Percentiles are against CIEN's own 13-year history, not a peer group or index.
Sector Rotation
Is money rotating into or out of CIEN's sector?
Ciena Corporation sits in the Technology sector, currently ranked 6th of 11 GICS sectors by relative-strength rotation score (lagging). Within its narrower Semiconductors industry group, CIEN ranks 13th of 15 tracked industries, lagging.
- Sector rank
- #6 of 11
- Sector state
- Lagging
- Sector rotation score
- 50
- Industry rank
- #13 of 15
Analyst Rating Changes
Are analysts turning bullish or bearish on CIEN?
B. Riley Securities most recently reiterated its rating on Ciena Corporation to Neutral on Sep 4, 2026 with a price target of $347 (from $413). Over the last 90 days, coverage has run 1 upgrade against 0 downgrades, a net bullish lean.
- Latest action
- B. Riley Securities — Neutral
- 90-day upgrades
- 1
- 90-day downgrades
- 0
- Net rating momentum
- +1
CIEN Competitive Positioning
- CIENyou're hereCiena Corporation$46.1B+4.21%
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- ZBRAZebra Technologies Corporation$16.6B-2.48%
