Cisco Stock Lower Despite Beat-and-Raise, Bull Notes
CSCOCisco Systems(CSCO) schaeffersresearch.com·2024-05-16 22:39

Cisco Systems Inc (NASDAQ:CSCO) beat fiscal third-quarter earnings and revenue expectations, and also issued strong 2024 and fourth-quarter revenue forecasts. The tech giant attributed the upbeat results to higher enterprise spending, as well as easing supply chain constraints. Nevertheless, CSCO reversed its premarket gains, last seen down 2.2% to trade at 48.56.Thesecurityisalsobrushingoffthreepricetargethikes,includingOppenheimersadjustmentto48.56. The security is also brushing off three price-target hikes, including Oppenheimer's adjustment to 58 from $54. The majority of analysts are sti ...