Ciena shares slide 13.7% after Q2 2026 results as full-year revenue outlook misses estimates

Ciena reported Q2 2026 results with revenue and adjusted EPS beating expectations, but its full-year revenue outlook of $6.2 billion to $6.4 billion fell short of analyst forecasts, sending the stock down 13.7% in a single session. The shares are 27.8% below their 52-week high and are up 517.6% over the past year, lagging Lumentum’s 897% gain. Technically, the stock has broken below its 50-day moving average. Wall Street sentiment is moderately positive, with a “Moderate Buy” consensus from 19 analysts and a mean price target of $593.75 implying 29% upside.