Cisco Systems stock falls 4.5 percent as Piper Sandler cuts target
Published on 09/23/2026 at 12:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Cisco Systems, Inc. (ISIN US17275R1023) closed at USD 106.44 on the Nasdaq on September 22, 2026, down 4.5 percent from USD 111.46. The decline followed Piper Sandler's reduction of its price target from USD 132 to USD 125 while keeping a neutral rating, as reported by MarketBeat on September 22, 2026.
Target cut meets strong results
The market reaction contrasts with Cisco's latest reported quarter, which ended July 25, 2026. Revenue rose 17.6 percent year over year to USD 17.25 billion, while adjusted earnings per share reached USD 1.22, beating the USD 1.17 consensus estimate by USD 0.05, according to MarketBeat.
The numbers show why the target cut is centered on valuation and future growth rather than a reported quarterly miss. Cisco's EPS rose from USD 0.99 in the year-earlier quarter to USD 1.22 in the period ended July 25, 2026, while fiscal 2027 adjusted EPS guidance stands at USD 5.05 to USD 5.11, according to MarketBeat.
AI demand faces a tougher test
Cisco's AI infrastructure orders from hyperscale customers reached USD 4 billion in the fourth fiscal quarter, while the full fiscal year 2026 total reached USD 9.3 billion. The company expects AI revenue of approximately USD 7.5 billion in fiscal 2027, according to CNBC.
That conversion from orders to revenue is the central operating question behind the cautious analyst view. Piper Sandler's revised USD 125 target remains USD 18.56 above the September 22 closing price, but its neutral rating reflects concern that traditional networking growth could return to single-digit rates, as reported by Sina Finance on September 23, 2026.
Cisco stock closes below yearly high
At USD 106.44 on September 22, 2026, Cisco stock traded between USD 104.51 and USD 110.17, with Nasdaq volume of 12,946,770 shares. The 52-week range was USD 66.81 to USD 130.37, placing the close USD 23.93 below the reported high, while the market reaction was notably weaker than the Nasdaq Composite's 0.45 percent gain that day.
Next, Cisco is scheduled to present at the U.S. All Stars Conference on September 23, 2026, according to Ad-hoc-News. The next quarterly report is expected on November 18, 2026, as listed by Finanzen.ch.
Cisco Systems stock data
- Company: Cisco Systems, Inc.
- ISIN: US17275R1023
- Ticker: CSCO
- Trading venue: Nasdaq
- Price as of September 22, 2026: USD 106.44
- Market capitalization as of September 22, 2026: USD 431.75 billion
- Sector / Industry: Information technology / communications equipment
- Index membership: Nasdaq 100
- Next earnings date: November 18, 2026
