Skip to main content

Market Overview

Cisco Systems Rallies Off Q4 Earnings: 4 Analysts Break Down The Print

Share:
Cisco Systems Rallies Off Q4 Earnings: 4 Analysts Break Down The Print

Cisco Systems Inc (NASDAQ: CSCO) reported quarterly earnings of 83 cents per share, beating the consensus estimate by 1 cent per share, on revenues of $13.1 billion, ahead of the Street expectations of $12.7 billion.

Here's what the sell side has to say after the print. 

JMP Securities On Cisco Systems

Analyst Erik Suppiger maintained a Market Perform rating for Cisco Systems.

“Total orders declined 6% Y/Y, which is down significantly from recent quarters, but the decline is more reflective of volatility caused by supply chain issues than demand,” Suppiger said in a note.

“F4Q22 revenue upside reflects an improvement in Cisco’s constrained supply chain after a challenging F3Q22,” he added.

Raymond James On Cisco Systems

Analyst Simon Leopold reaffirmed an Outperform rating while reducing the price target from $63 to $59.

“Cisco remains supply chain constrained, but backlog, price hikes and easing constraints enabled it to forecast mid-single digit FY23 sales growth vs. the Street’s 3%,” Leopold wrote. “Cisco saw no evidence of demand softening,” he added.

Check out other analyst stock ratings.

Rosenblatt Securities On Cisco Systems

Analyst Mike Genovese maintained a Neutral rating while reducing the price target from $53 to $48.

“Our first takeaway from Cisco's top line beat and raise, and bottom line in line / in line, is Cisco is looking more representative of the industry again,” Genovese said in a note.

“3QFY22 results made Cisco look like an under performer, but 4QFY22 results are more representative,” he added.

Needham On Cisco Systems

Analyst Alex Henderson reiterated a Hold rating for Cisco Systems.

“After guiding well below the Street to a down quarter coming into CY2Q, Cisco reported 4QF22 results above their guide with flat Revenues, but still below the pre-guide Street estimates of 2%-5% growth,” Henderson wrote. “The improving Supply is helping Revenue come in above Street estimates, but EPS is still just in-line,” he added.

CSCO Price Action: Shares of Cisco Systems were trading 6.12% higher at $49.52 midday Thursday. 

Photo via Shutterstock. 

Latest Ratings for CSCO

DateFirmActionFromTo
Mar 2022Wells FargoDowngradesOverweightEqual-Weight
Feb 2022Cowen & Co.MaintainsOutperform
Feb 2022Raymond JamesMaintainsOutperform

View More Analyst Ratings for CSCO

View the Latest Analyst Ratings

 

Related Articles (CSCO)

View Comments and Join the Discussion!

Posted-In: Analyst Color Earnings News Price Target Reiteration Analyst Ratings Movers Tech

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com