Cisco Systems Inc. (NASDAQ:CSCO) shares are trading lower Tuesday after Piper Sandler lowered its price target on the stock while maintaining a Neutral rating.
Here’s what you should know. Cisco Systems stock is feeling bearish pressure.
What’s pressuring CSCO stock? Piper Sandler Lowers its Cisco Price Target to $125 Piper Sandler analyst James Fish kept a Neutral rating on Cisco in place while trimming the price target down to $125 from $132.
86. Other recent analyst actions include Deutsche Bank initiating coverage with a Buy rating and $135 target on September 1, and HSBC downgrading the stock to Hold with a $120 target on August 14.
55. 57.
Until price climbs back above those marks, any bounce attempt runs the risk of running into fresh selling. Adding to that cautious read, the 20-day average has slipped under the 50-day, a bearish crossover that typically means the current pullback carries some real weight behind it.
Still, the 50-day hasn’t given up its perch above the 200-day, which tells a different story: the broader uptrend remains intact for now, and this looks more like a routine correction than the start of a lasting reversal. 20% and sitting fifth out of 11 S&P groups.
66% over the last quarter. The sectors leading today skew defensive, led by Consumer Staples, Materials and Healthcare, while Financials and Communication Services bring up the rear, a pattern consistent with money flowing out of rate-sensitive and ad-driven corners of the market.
27 at the time of publication on Tuesday, according to Benzinga Pro.
