# Cisco stock sinks 5% after Piper Sandler cuts price target on growth concerns — retained record

> Retained news record from news:cnbc-markets.

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source: [news](https://highsignal.app/data/news) (news:cnbc-markets)  published 2026-09-22 20:49 ingested 2026-09-23 02:59

[original source ↗](https://www.cnbc.com/2026/09/22/cisco-stock-piper-sandler-price-target.html)

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Cisco stock dropped almost 5% on Tuesday as Piper Sandler cut its price target for the networking equipment vendor to $125 from $132.
Piper analysts cited lower price-to-earnings multiple expectations stemming from concerns that growth is peaking in the industry.
The stock hit a record high in June, and is up 57% over the past 12 months as revenue has surged along with the artificial intelligence boom. The shares closed on Tuesday at $106.44.
Last month, Cisco posted strong fourth-quarter earnings that beat estimates, reporting $17.25 billion in revenue that topped a $16.8 billion estimate, according to LSEG.
The company issued strong guidance for its FY2027 during its last earnings call in August, but shares sank as it was met with a lackluster reception from analysts.
While Cisco projected nearly 15% revenue growth, analysts argued sales growth would dip back into single digits. Piper analysts called the projection "conservative" in the context of greater market demand.
"We're starting a new fiscal year. We're operating in incredible markets," Robbins told CNBC's Jim Cramer last month. "But it's also a time that we're going to start the year being a little bit prudent."
Hyperscalers made up about $4 billion in revenue in fiscal year 2026, and Cisco expects that number to almost double in fiscal 2027 to $7.5 billion.
WATCH: AI agents need supervision
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