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Piper Sandler cuts its price target for Cisco to $125 from $132, contributing to a nearly 5% drop in Cisco stock.
According to CNBC Technology, Piper Sandler cut Cisco's price target to $125 from $132, contributing to a nearly 5% drop in Cisco stock on Tuesday. The firm cited lower price-to-earnings multiple expectations as growth peaks. Cisco posted strong Q4 revenue and issued robust guidance for FY2027, while hyperscalers revenue is expected to rise sharply in the next year; shares closed at $106.44 the day of the drop.
economy17 h ago
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