12 Hot AI Stocks on Wall Street’s Radar

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9. Ciena Corporation (NYSE:CIEN)

Number of Hedge Fund Holders: 70

Ciena Corporation (NYSE:CIEN) is one of the 12 Hot AI Stocks on Wall Street’s Radar. On December 8, Needham raised its price target on the stock to $240.00 from $130.00 while maintaining a “Buy” rating.

The price target rating comes ahead of fiscal fourth-quarter earnings report on December 11 before markets open. Rising hyperscale AI capital expenditure and positive momentum in the telecommunications industry has led to strong demand for both Cloud and Telecom sectors for Ciena.

“Ahead of CIEN’s F4Q earnings, our industry checks indicate broad, strong demand in both Cloud and Telco, driven by rising hyperscale AI capex and positive momentum in Telco. As the industry leader in both plugs and line systems, we remain positive on CIEN heading into F26 and expect upside to 4Q results and F26 guidance.”

-Analysts led by Ryan Koontz.

Analyst sees modest upside versus consensus estimates and increased beats moving through fiscal 2026. This is supported by the company’s impressive backlog and continued network investment trends. Overall, the firm is optimistic on Ciena’s ability to sustain its strong competitive position and global market share.

Ciena Corporation (NYSE:CIEN) is a telecommunications hardware and software provider.

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