Is Cisco Stock a Buy Now That It's Acquiring Splunk?
Veteran tech titan Cisco Systems (NASDAQ: CSCO) may have started as a networking company, supplying the necessary hardware to enable communication between computers, but through a number of acquisitions over the years, the company has evolved to encompass an array of digital services. These include video conferencing, IT systems monitoring, and cybersecurity.
Its latest purchase is cybersecurity analytics firm Splunk (NASDAQ: SPLK) for $28 billion, Cisco's largest acquisition to date. After the news was announced on Sept. 21, Cisco's stock price dropped, creating a potential buy opportunity.
But does adding Splunk to its suite of software offerings provide Cisco with future upside, or is the deal a reason to avoid the networking giant? For the answer, let's look at both companies.
Source Fool.com
Cisco Systems Inc. Stock
With 11 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 56 € shows a positive potential of 25.53% compared to the current price of 44.61 € for Cisco Systems Inc..
