Key Highlights:
- Cisco's stock price rises 4% on strong Q3 results and bullish forecasts.
- Product orders surge 20% year-over-year, hitting over $600 million in AI infrastructure.
- Analysts project an average target price of $68.97, suggesting a 12.52% upside.
Cisco Systems (CSCO, Financial) is making waves in the tech world, as its stock price jumped 4% following the release of its impressive fiscal Q3 results and a promising outlook. The company recorded a 20% year-over-year increase in product orders. Notably, more than $600 million of these orders were in AI infrastructure, highlighting Cisco's pivotal role in this burgeoning sector. The tech giant has projected its FQ4 revenue to range between $14.5 billion and $14.7 billion, surpassing consensus estimates. Moreover, Cisco lifted its full-year revenue forecast to between $56.5 billion and $56.7 billion, exceeding market expectations.
Wall Street Analysts Forecast
According to the one-year price targets set by 17 analysts, Cisco Systems Inc (CSCO, Financial) is expected to reach an average target price of $68.97, with projections ranging from a high of $80.00 to a low of $55.43. This average target implies a potential upside of 12.52% from the current price of $61.29. For further detail on these estimates, be sure to visit the Cisco Systems Inc (CSCO) Forecast page.
The consensus from 23 brokerage firms currently rates Cisco Systems Inc (CSCO, Financial) with an average brokerage recommendation of 2.3, which signifies an "Outperform" status. On the rating scale, 1 represents a Strong Buy, while 5 indicates a Sell.
However, considering GuruFocus estimates, the estimated GF Value for Cisco Systems Inc (CSCO, Financial) in one year is $55.64. This suggests a potential downside of 9.22% from the current price of $61.29. The GF Value is a calculated fair value estimate based on historical trading multiples, past business growth, and future performance projections. To explore more detailed data, head over to the Cisco Systems Inc (CSCO) Summary page.
