Ciena Corp (NYSE:CIEN) posted upbeat earnings for its first quarter on Thursday.

The company posted adjusted earnings of $1.35 per share, beating market estimates of $1.17 per share. The company's sales came in at $1.427 billion versus estimates of $1.399 billion.

Ciena raised its FY2026 sales guidance from $5.700 billion-$6.100 billion to $5.900 billion-$6.300 billion.

“We delivered a very strong fiscal first quarter, driven by focused execution and unprecedented, broad-based demand as we enable customers to monetize their AI investments,” said Gary Smith, President and Chief Executive Officer of Ciena. “With industry‑leading technology and deep customer relationships, we are well positioned to meet multi‑year demand as AI‑driven networking continues to scale. We are investing and executing to deliver long‑term value for our shareholders and to support the full range of high‑speed connectivity needs for our customers.”

Ciena shares gained 2.8% to trade at $307.39 on Friday.

These analysts made changes to their price targets on Ciena following earnings announcement.

• B of A Securities analyst Tal Liani upgraded Ciena from Neutral to Buy and raised the price target from $260 to $355.
• Stifel analyst Ruben Roy reiterated the stock with a Buy and raised the price target from $280 to $320.
• Barclays analyst Tim Long maintained Ciena with an Overweight rating and raised the price target from $279 to $372.
• Morgan Stanley analyst Meta Marshall maintained the stock with an Equal-Weight rating and raised the price target from $280 to $286.
• Citigroup analyst Atif Malik maintained Ciena with a Buy and raised the price target from $280 to $345.

Considering buying CIEN stock? Here’s what analysts think:

Photo via Shutterstock