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SiSCO stock falls after target cut
Piper Sandler has lowered its target price for Cisco's stock from $132 to $125, leading the stock to decline by 5% and close at $106.44. This reduction was driven by a downturn in the earnings multiple outlook amid concerns that the growth of the networking equipment industry has now peaked. Despite Cisco reporting strong fourth-quarter financial results with revenues of $17.25 billion and guiding for a 15% revenue growth in fiscal year 2027, investors and analysts have expressed cautious optimism about near-term growth prospects. They anticipate an increase in cloud computing services revenue from $4 billion to $7.5 billion in fiscal 2027 and expect the company to adopt a cautious approach at the start of the new fiscal year.
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