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Home / Business / Shares of Cisco slipped to its worst day since 2011 after earnings

Shares of Cisco slipped to its worst day since 2011 after earnings



Cisco Systems Inc. share CSCO,
-11.05%
Down 11.6% in Thursday morning trading after the company reported falling fourth-quarter revenue and offering a positive outlook for the current period. The stock is on its worst one-day percentage decline since Feb. 10, 2011, when it fell 14.2 percent. Barclays analyst Tim Long writes: “The guidance for the October quarter is questionable,” raising concerns that the CSCO’s relative resilience to date may weaken as the effects of the pandemic drag on. to fiscal year 21

. “He wrote about his concerns about Cisco’s commercial order trends as the company continues to see delays in spending. Long has a neutral rating and a target. price $ 50 per share RBC Capital Markets analyst Robert Muller retains a better rating on the stock and raises the price target to $ 48 from $ 47 but warns of “misfortune” in Muller writes: “Although we believe that the company’s favorable positions and positions in the business sectors set the stage for a favorable pandemic return, uncertainty time drives us to push our expectations for growth, ”writes Muller. Cisco shares have risen 1.5% over the past three months with the Dow Jone Industrial Average. S,
-0.13%
has increased by 20%.


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