Stock Market Today: S&P 500 extends winning streak on signs of economic strength By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 15 2024
0mins
Should l Buy CSCO?
Source: Investing.com
Market Performance: The S&P 500 closed higher for the sixth consecutive session, driven by strong labor market and retail sales data, with significant gains in major indices including a 1.4% rise in the Dow Jones and a 2.3% increase in the NASDAQ Composite.
Retail and Corporate Highlights: U.S. retail sales exceeded expectations with a 1% increase in July, while Walmart and Cisco reported better-than-expected earnings, leading to notable stock price increases; Ulta Beauty surged 11% after receiving investment from Berkshire Hathaway.
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Analyst Views on CSCO
Wall Street analysts forecast CSCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CSCO is 89.36 USD with a low forecast of 76.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 82.360
Low
76.00
Averages
89.36
High
100.00
Current: 82.360
Low
76.00
Averages
89.36
High
100.00
About CSCO
Cisco Systems, Inc. designs and sells a range of technologies that power the Internet. The Company is integrating its product portfolios across networking, security, collaboration, applications and cloud. The Company's segments include the Americas; Europe, Middle East, and Africa (EMEA), and Asia Pacific, Japan, and China (APJC). Its Networking product category represents its core networking technologies of switching, routing, wireless, fifth generation (5G), silicon, optics solutions and compute products. Its Security product category consists of its cloud and application security, industrial security, network security, and user and device security offerings. Its Collaboration product category consists of its meetings, collaboration devices, calling, contact center and platform as a service (CPaaS) offering. Its Observability product category consists of its full stack observability offerings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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