Cisco Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Cisco Systems, Inc. CSCO is projected to release financial results for its first quarter fiscal year 2024, after the closing bell on Nov. 15, 2023.

Analysts expect the company to post quarterly earnings at $1.03 per share, up from year-ago earnings of 86 cents per share. The company’s revenue might come in at $14.62 billion, compared to $13.31 billion in the year-ago period.

Cisco Systems recently agreed to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value.

Cisco shares gained 1.8% to close at $53.17 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• B of A Securities analyst Tal Liani maintained a Neutral rating and raised the price target from $56 to $60 on Sept. 13, 2023. This analyst has an accuracy rate of 78%.
• Evercore ISI Group analyst Amit Daryanani maintained an Outperform rating and increased the price target from $60 to $63 on Aug. 17, 2023. This analyst has an accuracy rate of 76%.
• Jefferies analyst George Notter maintained a Buy rating and increased the price target from $54 to $59.5 on Aug. 17, 2023. This analyst has an accuracy rate of 75%.
• Citigroup analyst Atif Malik maintained a Neutral rating and raised the price target from $54 to $55 on Aug. 17, 2023. This analyst has an accuracy rate of 80%.
• UBS analyst David Vogt maintained a Neutral rating and raised the price target from $51 to $55 on Aug. 17, 2023. This analyst has an accuracy rate of 77%.

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