By Isabel O’Brien
Publication Date: 2026-09-22 19:21:00
Chuck Robbins, CEO of Cisco Systems, speaks during the 2026 Semafor World Economy conference in Washington, DC, on April 15, 2026.
Kent Nishimura | Afp | Getty Images
Cisco stock dropped about 5% on Tuesday as Piper Sandler cut its price target for the networking equipment vendor to a share price of $125 from a prior $132.
Piper analysts cited lower price-to-earnings multiple expectations stemming from concerns that growth is peaking in the industry.
The company hit a record high in June, and the stock is up about 56% over the past 12 months as revenue has surged along with the artificial intelligence boom.
Last month, Cisco posted strong fourth-quarter earnings that beat estimates, reporting $17.25 billion in revenue that topped a $16.8 billion estimate, according to LSEG.
Cisco’s stock price
The company issued strong guidance for its FY2027 during its last earnings call in August, but shares sank as it was met with a lackluster reception from…
