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Ciena stock

CIENNYSE

Ciena Corporation, TechnologyISIN US1717793095

$296.04▲ $23.94 (+8.8%)Closing price of 11 Nov 2026

63Score 63 out of 100, Neutral

Turn on early warning

Price and trend

34 / 100

Price history

+43% in one year

The chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.

Long-term trend

Below the 200-day line: the price is 27% below it.

Trend change

Since September 2026 the 50-day line has been below the 200-day line; the trend has turned down.

Momentum

Normal: the price is neither overheated nor sold off (RSI 45).

Distance to the high

The price is 53% below its 52-week high. Largest decline in 20 years: 90% (October 2007 to February 2009).

Chart figures for advanced users
SMA 50$345.19
Average price of the last 50 trading days, shows the short-term trend.
SMA 200$406.32
Average price of the last 200 trading days, shows the long-term trend.
RSI (14)45
Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
MACDbelow the signal line
Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
Support$176.45
The lowest closing price of the last twelve months.
Resistance$627.00
The highest closing price of the last twelve months.
What would $1,000 in Ciena have become?Return triangle for Ciena
Market cap
$41.98B
Div. yield
no dividend
66.0
on reported earnings of the last twelve months
24.7
on earnings for the next twelve months ($12.00 per share)
Fair value
$403.60

Snapshot

Computed from the data by fixed rules, no AI

  • Ciena Corporation belongs to the Communication Equipment industry (United States) and, with a market value of $41.98B, is number 8 of 55 companies in its industry on MEQIRI.
  • In fiscal 2025 it reported revenue of $4.77B (up 18.8% year on year) and earnings of $123.34M (up 46.9%).
  • For fiscal 2026, analysts expect on average revenue of $6.43B (up 34.8%) and adjusted earnings per share of $7.17 (up 171.4%).
Show more
  • MEQIRI Score 63 out of 100 (Neutral): rank 367 of 857 in Technology, median 61.
  • The P/E is 66 (Communication Equipment median 32.5, own median of recent years 23.4).
  • Our model puts fair value at $403.60, with the price 27% below it.

In plain words

The numbers on this page in plain words, written by an AI

Strengths

  • Analysts expect strong earnings growthUp 44.8% a year through 2028 (estimates from 11 analysts).Growth 72
  • Share buybacksShare count down 8% since 2020.Capital allocation 71
  • Earnings turn into cashFree cash flow 110% of earnings over the last 12 months.Fundamentals 89

Weaknesses

  • Richly valuedP/E 66, Communication Equipment median 32.5, own median 23.4.Valuation 43
  • Volatile share priceVolatility 81% a year over the last 12 months.Stability 48
  • Earnings per share fallingDown 18% a year since 2020.
63/ 100
MEQIRI Score
Neutral

Its standout strengths are fundamentals and profitability, while valuation and technical analysis hold the score back.

Daily figure as of 12 Nov 2026

How the score is calculated

Score overview

Fundamentals are strong, with stable profits and strong cash generation.

Profit consistency90% of years
Cash conversion (free cash flow to earnings, 12 months)110%
ROIC (12 months)23.7%
Positive free cash flow90% of years
How this category is measured

Score history

The full history of up to 20 years comes with MEQIRI Pro.

See plans

Crash risk high

How well MEQIRI warns

One of the 30% with the highest crash risk among stocks ranked 101 to 1,000.

From 2016 to 2025, 23 in 100 such stocks fell 30% or more within a year, against a group average of 15 in 100.

What drives the risk

  • price far below its 52-week high
  • high price swings

What lowers it

  • solid fundamentals

Valuation

Valuation signal

Modestly undervalued
Price
$296.04
Fair value
$403.60
Gap to fair value
−27%

In our model the price counts as cheap below $269.07 and expensive above $807.20 (uncertainty very high, based on the price swings of the past year).

The two parts of the fair value come to $661.36 (cash-flow model) and $145.84 (industry comparison), and the gap between them shows how uncertain the estimate is.

Calculated with a cost of equity of 9.3%. At 10.3% the fair value would be $344.35, at 8.3% it would be $489.98.

Valuation metrics

1.96
45.2
Fair value (model)
$403.60
Earnings part $145.84 (earnings per share $4.48 × 32.5)

Half from the cash-flow model, half from earnings times the industry P/E (32.5).

Calculate with your own assumptions

Company performance

This shows several years of history with an automatic assessment.

Revenue

20 years

In the twelve months to 1 Aug 2026, revenue rose 32.6% on the twelve months before. Revenue has grown solidly since 2006, at about 12% per year.

Margins

20 years
  • Gross margin
  • Operating margin
  • Net margin

In fiscal 2025: gross 42%, operating 7%, net 3%. Last 12 months: net 11%.

Debt & balance sheet

latest quarter
1.07
2.7x
3.8
Cash & equivalents
$2.63B

Debt is elevated. Keep an eye on the interest burden and refinancing.

Earnings

Next earnings
10 Dec 2026in 28 days
Last reported
3 Sep 2026EPS reported $2.11 (expected $1.73)above expectations

Analyst estimates

Earnings estimates have barely changed since 15 Oct 2026.

Fiscal 202714 analysts
Earnings per share
$11.850.0%
Revenue
$8.45B0.0%
Fiscal 202816 analysts
Earnings per share
$17.530.0%
Revenue
$10.95B0.0%

MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.

Company outlook raised

Share price after the results: −9.4%

Full year revenue guidance midpoint was raised by $120 million to $6.42 billion and adjusted gross margin for the year by 50 basis points.

Supporting passage from the call, verbatim
“In Q4 26, we expect to deliver of $1.75 billion plus or minus $50 million, raising the full year midpoint to $6.42 billion, up $120 million from last quarter. With this revenue guide, we expect to increase our market share in the combined optical systems and plug market by about 4 points to approximately 30%.”

The outlook is not part of the score and not a recommendation to buy or sell.

From the earnings call on 3 Sep 2026 (fiscal Q3 2026), read by AI.

Insiders

Open-market purchases and sales by executives, board members and major holders

All insider purchases

No open-market purchases in the last 6 months. 10 insiders sold, $34.94M in total.

Sales say less than purchases: many insiders sell on a fixed plan, for taxes or to diversify.

  • Smith Gary BSale

    2 Nov 2026, President & CEO

    Shares
    2,952
    Price
    $298.16
    Value
    $880,155
  • Gage BrodieSale

    15 Oct 2026, EVP & Chief Product & Tech

    Shares
    1,200
    Price
    $344.08
    Value
    $412,896
  • DiPerna DinoSale

    15 Oct 2026, EVP & Chief R&D Officer

    Shares
    890
    Price
    $347.04
    Value
    $308,866
Show 37 more
  • Smith Gary BSale

    15 Oct 2026, President & CEO

    Shares
    2,952
    Price
    $348.02
    Value
    $1.03M
  • Rothenstein David MSale

    15 Oct 2026, EVP & Chief Strategy Officer

    Shares
    2,500
    Price
    $348.06
    Value
    $870,157
  • Smith Gary BSale

    1 Oct 2026, President & CEO

    Shares
    2,952
    Price
    $369.66
    Value
    $1.09M
  • Graff Marc D.Sale

    1 Oct 2026, EVP & Chief Financial Officer

    Shares
    97
    Price
    $355.19
    Value
    $34,453
  • Kosaraju SheelaSale

    1 Oct 2026, EVP & Chief Legal Officer

    Shares
    2,101
    Price
    $355.19
    Value
    $746,254
  • Phipps JasonSale

    1 Oct 2026, EVP & Chief Customer Officer

    Shares
    2,629
    Price
    $355.19
    Value
    $933,795
  • Cumello JosephSale

    25 Sept 2026, EVP & General Mgr.

    Shares
    1,586
    Price
    $358.52
    Value
    $568,605
  • Claflin Bruce L.Sale

    24 Sept 2026, Board

    Shares
    2,857
    Price
    $355.91
    Value
    $1.02M
  • Nevens Thomas MichaelSale

    23 Sept 2026, Board

    Shares
    3,738
    Price
    $359.04
    Value
    $1.34M
  • DiPerna DinoSale

    16 Sept 2026, EVP & Chief R&D Officer

    Shares
    249
    Price
    $350.00
    Value
    $87,150
  • Smith Gary BSale

    15 Sept 2026, President & CEO

    Shares
    2,952
    Price
    $330.18
    Value
    $974,688
  • Rothenstein David MSale

    15 Sept 2026, EVP & Chief Strategy Officer

    Shares
    2,500
    Price
    $330.48
    Value
    $826,208
  • Gage BrodieSale

    15 Sept 2026, EVP & Chief Product &

    Shares
    1,200
    Price
    $324.86
    Value
    $389,832
  • DiPerna DinoSale

    15 Sept 2026, EVP & Chief R&D Officer

    Shares
    249
    Price
    $324.86
    Value
    $80,890
  • Smith Gary BSale

    1 Sept 2026, President, CEO

    Shares
    2,952
    Price
    $362.90
    Value
    $1.07M
  • Smith Gary BSale

    17 Aug 2026, President, CEO

    Shares
    2,952
    Price
    $447.78
    Value
    $1.32M
  • Gage BrodieSale

    17 Aug 2026, SVP Global Products & Supply

    Shares
    1,200
    Price
    $439.24
    Value
    $527,088
  • Graff Marc D.Sale

    14 Aug 2026, SVP & Chief Financial Officer

    Shares
    4,995
    Price
    $430.72
    Value
    $2.15M
  • Rothenstein David MSale

    14 Aug 2026, SVP and Chief Strategy Officer

    Shares
    2,500
    Price
    $438.10
    Value
    $1.1M
  • Smith Gary BSale

    3 Aug 2026, President, CEO

    Shares
    2,952
    Price
    $379.81
    Value
    $1.12M
  • Smith Gary BSale

    15 Jul 2026, President, CEO

    Shares
    2,952
    Price
    $421.10
    Value
    $1.24M
  • Rothenstein David MSale

    15 Jul 2026, SVP and Chief Strategy Officer

    Shares
    2,500
    Price
    $420.91
    Value
    $1.05M
  • Gage BrodieSale

    15 Jul 2026, SVP Global Products & Supply

    Shares
    1,200
    Price
    $449.15
    Value
    $538,980
  • DiPerna DinoSale

    15 Jul 2026, SVP Global R&D

    Shares
    782
    Price
    $449.15
    Value
    $351,235
  • Kosaraju SheelaSale

    1 Jul 2026, SVP and General Counsel

    Shares
    2,013
    Price
    $466.20
    Value
    $938,461
  • Graff Marc D.Sale

    1 Jul 2026, SVP & Chief Financial Officer

    Shares
    126
    Price
    $466.20
    Value
    $58,741
  • Phipps JasonSale

    1 Jul 2026, SVP Global Sales and Marketing

    Shares
    2,629
    Price
    $466.20
    Value
    $1.23M
  • Smith Gary BSale

    1 Jul 2026, President, CEO

    Shares
    2,952
    Price
    $468.83
    Value
    $1.38M
  • Cumello JosephSale

    26 Jun 2026, SVP, General Mgr. Blue Planet

    Shares
    1,586
    Price
    $466.33
    Value
    $739,599
  • Graff Marc D.Sale

    24 Jun 2026, SVP & Chief Financial Officer

    Shares
    126
    Price
    $449.36
    Value
    $56,619
  • Smith Gary BSale

    15 Jun 2026, President, CEO

    Shares
    2,952
    Price
    $457.02
    Value
    $1.35M
  • Rothenstein David MSale

    15 Jun 2026, SVP and Chief Strategy Officer

    Shares
    2,500
    Price
    $457.07
    Value
    $1.14M
  • Gage BrodieSale

    15 Jun 2026, SVP Global Products & Supply

    Shares
    1,200
    Price
    $466.10
    Value
    $559,320
  • Smith Gary BSale

    1 Jun 2026, President, CEO

    Shares
    2,952
    Price
    $565.92
    Value
    $1.67M
  • Smith Gary BSale

    15 May 2026, President, CEO

    Shares
    2,952
    Price
    $562.05
    Value
    $1.66M
  • Rothenstein David MSale

    15 May 2026, SVP and Chief Strategy Officer

    Shares
    2,500
    Price
    $562.39
    Value
    $1.41M
  • Gage BrodieSale

    15 May 2026, SVP Global Products & Supply

    Shares
    1,200
    Price
    $570.65
    Value
    $684,780

Partial trades from one filing are shown in one row, with the average price.

Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.

What happened at Ciena

The key events of the last six months from our own data. A click takes you to the matching card.

Sector comparison

857 rated companies in Technology

Rank 367 of 857
367/ 857
This company
63
Sector median
61

Categories against the sector median

ProfitabilityMedian of 857 companies74 (median 59)15 above the median
GrowthMedian of 857 companies72 (median 68)4 above the median
FundamentalsMedian of 857 companies89 (median 67)22 above the median
ValuationMedian of 788 companies with a value43 (median 52)9 below the median
StabilityMedian of 857 companies48 (median 67)19 below the median
Capital allocationMedian of 857 companies71 (median 53)18 above the median
Technical analysisMedian of 857 companies34 (median 59)25 below the median
MomentumMedian of 857 companies46 (median 56)10 below the median

The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.

Competitors in Communication Equipment

The next larger and next smaller companies by market value

All 55 Communication Equipment stocks

ETFs that hold Ciena

Held by 113 ETFs on Xetra. Shown per index: the ETF with the largest weight.

ETFWeightCostFund size
iShares Digital Security UCITS ETFIS4S1.30%0.40%€1.9B
WisdomTree Quantum Computing UCITS ETF USD AccWQTM1.11%0.50%€257.17M
Deka MSCI USA MC UCITS ETFEL410.65%0.30%€51.58M
Show 5 more
Invesco Global Active ESG Equity UCITS ETF USD AccIQSA0.47%0.30%€3.12B
iShares Edge MSCI USA Momentum Factor UCITS ETFQDVA0.46%0.20%€515.17M
iShares Edge MSCI USA Minimum Volatility Advanced UCITS ETFMVEA0.34%0.20%€117.82M
Xtrackers MSCI World Momentum UCITS ETF 1CXDEM0.30%0.25%€1.88B
iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)IS3R0.28%0.25%€4.9B

Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).

Data status and sources

Score
Daily value of 12 Nov 2026, recalculated nightly
Price
Closing price of 11 Nov 2026
Latest annual report
Fiscal year 2025, period end 1 Nov 2025
Source
Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Original filings at the SECReport a data error

Mandatory disclosures for this rating

  • ; time horizon around 12 months
  • Rated Neutral, published since 7 Nov 2026 (in the score history since 21 Aug 2026)
  • Valuation signal Fairly valued since 11 Nov 2026, previously Undervalued
  • End-of-day prices, metrics cached for up to 24 hours
  • Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
  • Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
  • Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.
Full disclosures, methodology and data sourcesAll ratings of the last 12 monthsHow the score is calculated

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