By Kalbir Talwar
Publication Date: 2026-09-22 23:55:00
What moved the stock
Cisco slid almost 5% Tuesday after Piper Sandler lowered its price target to $125 from $132, citing a reset in expected price-to-earnings multiples as investors fret that sector growth may be cresting. The stock finished at $106.44, down $5.02 or 4.50%. By 7:59 PM EDT, the last after-hours trade was $106.38, off 0.05%.
The recent results and guidance
Cisco’s latest quarter topped expectations, with revenue of $17.25 billion exceeding the $16.8 billion figure compiled by LSEG. In August, the company laid out an ambitious FY2027 outlook calling for almost 15% revenue growth. Even so, shares slipped at the time as the guidance drew a cool response from analysts.
How analysts are framing it
Piper’s team said a lower multiple made sense given fears that broader industry growth is topping out. While Cisco laid out an FY2027 growth path, analysts argued sales would settle back into single-digit gains. Piper still labeled the company’s projection “conservative”…
