Is Cisco Systems Stock a Buy Now?
Cisco Systems' (NASDAQ: CSCO) stock rose 3% on Aug. 17 after the networking giant posted its latest earnings report. For the fourth quarter of fiscal 2023, which ended on July 29, its revenue rose 16% year over year to $15.2 billion and exceeded analysts' estimates by $150 million. Its adjusted earnings per share (EPS) rose 37% to $1.14 and also cleared the consensus forecast by $0.08. Those headline numbers were impressive, but is Cisco still worth buying in this wobbly market?
Cisco is the world's largest producer of networking switches and routers. It also bundles cybersecurity, enterprise collaboration, and cloud-based data observability services with its hardware to lock in its customers and widen its moat.
Image source: Getty Images.
Source Fool.com
Cisco Systems Inc. Stock
We see a rather positive sentiment for Cisco Systems Inc. with 12 Buy predictions and 1 Sell predictions.
With a target price of 56 € there is a positive potential of 27.17% for Cisco Systems Inc. compared to the current price of 44.04 €.
