The Jacksonville, Florida-based company’s fourth-quarter revenue of $3.62 billion topped Wall Street’s estimated $3.33 billion.
The company’s fee-earning assets under management (AUM) fell by 1% to $304 billion compared with last year.
The company now expects fourth-quarter 2024 adjusted diluted earnings per share to be in-line with its previously issued range of $1.40 to $1.65
Stores include at least nine locations in New York and at least nine in California.
Raymond James raised the firm's price target to $82 from $75 with a Strong Buy rating as part of its 2025 outlook note.
Stocktwits data reveals Ciena’s ticker has hit its highest message volume this year, with users debating if the price surge is justified by optimistic guidance despite the earnings miss.