Cisco stock news

Here are some recent news and updates about Cisco Systems, Inc. (CSCO) stock:

Recent News:

  1. Q2 Earnings Beat Expectations: Cisco reported its Q2 fiscal 2023 earnings on November 16, 2022, beating analyst expectations. The company's revenue grew 6% year-over-year to $13.7 billion, driven by strong demand for its networking and cybersecurity products.
  2. Acquisition of Acacia Communications: In November 2022, Cisco announced its plans to acquire Acacia Communications, a leading provider of high-speed optical interconnects, for $2.6 billion. The acquisition is expected to enhance Cisco's optical networking capabilities.
  3. Partnership with Google Cloud: In October 2022, Cisco and Google Cloud announced a partnership to provide a secure and scalable cloud networking solution for enterprises. The partnership aims to help customers simplify their cloud adoption and migration processes.
  4. Cybersecurity Investments: Cisco has been investing heavily in its cybersecurity business, including the acquisition of Duo Security in 2018 and the launch of its SecureX platform in 2020. The company has also been expanding its threat research and incident response capabilities.

Stock Performance:

  1. Recent Price Action: Cisco's stock price has been relatively stable in recent months, trading between $45 and $55 per share.
  2. Long-Term Performance: Over the past five years, Cisco's stock has returned around 20%, outperforming the broader market.
  3. Dividend Yield: Cisco pays a quarterly dividend of $0.36 per share, yielding around 3.2% at the current stock price.

Analyst Estimates:

  1. Consensus Rating: Cisco has a consensus rating of "Buy" or "Overweight" from 24 analysts, with an average price target of $58.50 per share.
  2. Earnings Estimates: Analysts expect Cisco's earnings to grow around 5% year-over-year in Q3 fiscal 2023, driven by strong demand for its networking and cybersecurity products.

Risk Factors:

  1. Competition: Cisco faces intense competition in the networking and cybersecurity markets from companies like Juniper Networks, Hewlett Packard Enterprise, and Palo Alto Networks.
  2. Global Economic Uncertainty: The ongoing global economic uncertainty and trade tensions could impact Cisco's revenue and profitability.
  3. Cybersecurity Threats: The increasing frequency and severity of cybersecurity threats could impact Cisco's business and reputation.

Overall, Cisco's stock has been relatively stable in recent months, driven by its strong financial performance and strategic investments in its networking and cybersecurity businesses. However, investors should be aware of the company's competitive landscape, global economic uncertainty, and cybersecurity threats.