Northland Securities increased its earnings per share (EPS) estimates for Ciena. The firm raised its full-year 2026 EPS forecast to $6.05. This represents an increase from the previous $5.39 estimate. It also initiated a fiscal year 2027 EPS estimate of $10.98.
The revision follows Ciena's strong third-quarter performance. The company reported an EPS of $2.11. This result beat the consensus estimate of $1.73. Revenue reached $1.67 billion for the period.
Northland Securities maintained its Outperform rating on the stock. The firm kept its price target at $500. These moves reflect confidence in Ciena's growth trajectory.