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?
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Source Fool.com
Cisco Systems Inc. Stock
€44.16
-0.440%
With 12 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 56 € shows a positive potential of 26.83% compared to the current price of 44.16 € for Cisco Systems Inc..
