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.
Key facts
- 01Piper Sandler cut Cisco's price target to $125 from $132.
- 02Cisco stock dropped almost 5% on Tuesday.
- 03Cisco reported $17.25 billion in Q4 revenue, topping a $16.8 billion estimate per LSEG.
- 04Hyperscalers revenue is expected to nearly double in fiscal 2027 to $7.5 billion.
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