Is Cisco Systems Stock a Buy Now?
Cisco Systems (NASDAQ: CSCO) posted its latest earnings report on May 17. For the third quarter of fiscal 2023, which ended on April 29, the networking leader's revenue rose 14% year over year to $14.6 billion and beat analysts' estimates by $210 million. Its adjusted EPS grew 15% to $1.00 and cleared the consensus forecast by three cents.
Those growth rates were impressive, but Cisco's stock price only rose slightly after the report and remains more than 20% below its all-time high from December 2021. Should investors buy shares of this blue-chip tech stock as the bulls look the other way?
Image source: Getty Images.
Source Fool.com
Cisco Systems Inc. Stock
€42.68
0.290%
We see a rather positive sentiment for Cisco Systems Inc. with 12 Buy predictions and 2 Sell predictions.
With a target price of 54 € there is a positive potential of 26.54% for Cisco Systems Inc. compared to the current price of 42.68 €.
