Ciena Corporation (NYSE:CIEN) is one of the Unstoppable Tech Stocks to Buy Now. On March 23, Stifel analyst Ruben Roy raised the company’s price target for Ciena Corporation (NYSE:CIEN) from $320 to $430, while maintaining a Buy rating on the stock.
The rating comes after the analyst attended the company’s investor breakfast and met with management at OFC 2026. The firm returned with an increasingly constructive view of the company and appreciated management’s efforts towards execution, strategy and technology roadmap.
Stifel noted that OFC 2026 was a significant event for the company as it showcased its products and discussed its strategy. The firm highlighted Ciena’s AI networking and optical technology portfolio, which includes higher capacity optics, AI-powered network management and data center interconnect solutions. The analyst sees these developments as reinforcing his already bullish view of the company following its fiscal first quarter 2026 results.
During the quarter, Ciena Corporation (NYSE:CIEN) achieved year-over-year revenue growth of 33.09% to $1.43 billion and beat Wall Street expectations by $28.88 million. EPS of $1.35 also beat expectations by $0.18.
Ciena Corporation (NYSE:CIEN) builds and sells networking hardware, software and related services that help telecommunications carriers and other network operators increase capacity, automate operations and deliver better services.
While we recognize CIEN’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: 33 stocks that should double in 3 years and 15 stocks that will make you rich in 10 years.
Disclosure: None. Follow Insider Monkey on Google News.