In This Article:
Cisco Systems (NASDAQ:CSCO) shares climbed about 4% on Thursday pre-market trading after the company delivered fiscal Q3 results ahead of analyst expectations and lifted its full-year outlook.
Revenue rose 11% year over year to $14.15 billion, beating the $14.00 billion consensus. Adjusted earnings came in at $0.96 per share, ahead of the $0.92 estimate. GAAP net income was $2.49 billion, or $0.62 per share, compared to $1.89 billion, or $0.46 per share, in the same quarter last year.
Cisco pointed to a 20% annual increase in product orders, with AI infrastructure demand surpassing $600 million in the quarter.
For the fiscal fourth quarter, the company guided revenue between $14.5 billion and $14.7 billion, with the midpoint above the $14.51 billion average forecast. Adjusted EPS is expected to range from $0.96 to $0.98, compared to the $0.95 consensus.
Full-year revenue is now projected between $56.5 billion and $56.7 billion, topping the prior $56 billion to $56.5 billion range. The company sees non-GAAP EPS for the year between $3.77 and $3.79, in line with the Street's $3.78 estimate.
Is CSCO Stock a Buy Now?
Based on the one year price targets offered by 17 analysts, the average target price for Cisco Systems Inc is $68.97 with a high estimate of $80.00 and a low estimate of $55.43. The average target implies a upside of +12.52% from the current price of $61.29.
Based on GuruFocus estimates, the estimated GF Value for Cisco Systems Inc in one year is $55.64, suggesting a downside of -9.22% from the current price of $61.29.
This article first appeared on GuruFocus.