From Nasdaq: 2024-06-24 00:05:44

Cisco Systems Inc (NASDAQ: CSCO) stock has fallen by about 9% this year due to sluggish product sales and reduced networking spending by large companies. Over Q3 FY’24, revenue declined by almost 13% year-over-year to $12.7 billion. Cisco is facing competition from smaller networking companies impacting growth.

Cisco (CSCO) indicates stabilization in demand with better-than-expected Q4 guidance. Gross margins rose to 65% in Q3 FY’24. The company’s push into cybersecurity, highlighted by the acquisition of Splunk, could drive growth. CSCO stock is undervalued trading at 13x consensus earnings for FY’24, with a target price of $55 per share.



Read more at Nasdaq: Is Cisco Undervalued At $46, Amid Network Recovery And Splunk Revenue Upside?