Cisco Systems, Inc. (CSCO) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
Few legacy tech names have staged a comeback like Cisco Systems (NASDAQ:CSCO | CSCO Price Prediction).
Shares of Cisco Systems (CSCO) rose Friday, outperforming the broader market, after HSBC upgraded the networking giant and sharply increased its price target following the company's stronger-than-expected fiscal third-quarter earnings report. Cisco shares gained about 2% during the session, even as the broader market weakened, with the S&P 500 falling roughly 0.79%.
On Wednesday, Cisco Systems announced impressive quarterly earnings alongside nearly 4,000 job cuts.
The AI buildout continues to benefit many companies, with these three posting record results while also delivering bullish guidance thanks to the favorable trends.
Cisco beats Q3 FY26 estimates as networking and hyperscaler AI orders jump. It also raises FY26 outlook and unveils a restructuring plan.
Not only are its networking products enabling superior performance by reducing bottlenecks and latency, but its AI-native security is in demand by enterprises.
Six major Wall Street firms hiked their price targets on Cisco Systems (NASDAQ:CSCO | CSCO Price Prediction) on May 14, following a blowout fiscal Q3 2026 report that sent shares surging roughly 19% after the close.
Cisco's stock keeps hitting new highs as AI orders surge.
Cisco Systems Inc (NASDAQ:CSCO, XETRA:CIS) reported fiscal third quarter 2026 results that topped Wall Street expectations on both revenue and earnings, driven by accelerating demand for AI infrastructure, sending shares up about 14% to about $116 on Thursday morning. The company posted adjusted earnings per share of $1.06 for the quarter ended April 2026, compared with analyst expectations of $1.04.
Soaring AI demand is powering the industry toward a "networking supercycle," Cisco CEO Chuck Robbins told CNBC. Shares surged after the networking company surpassed its full-year order guidance and announced layoffs.
Technology giant Cisco is cutting fewer than 4,000 jobs, or around 5% of its workforce, despite reporting better-than-expected profit and revenue in its fiscal third quarter.