{"id":78636,"date":"2023-10-30T18:31:06","date_gmt":"2023-10-30T22:31:06","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ciscos-next-earnings-could-be-strong-but-this-analyst-is-still-ending-his-bull-call\/"},"modified":"2023-10-30T18:31:11","modified_gmt":"2023-10-30T22:31:11","slug":"ciscos-next-earnings-could-be-strong-but-this-analyst-is-still-ending-his-bull-call","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78636","title":{"rendered":"Cisco\u2019s next earnings could be strong, but this analyst is still ending his bull call"},"content":{"rendered":"
\n

Cisco Systems Inc. likely had a strong October quarter, according to Raymond James analyst Simon Leopold, but he\u2019s still taking a more cautious view on the stock. <\/p>\n

Leopold downgraded Cisco shares
\n CSCO,
\n +0.02%<\/bg-quote>
\n to market perform from outperform Monday, despite \u201cencouraging\u201d industry checks regarding Cisco\u2019s October quarter, results for which the company will report Nov. 15. He\u2019s more worried about the future, warning about growth trends moving forward. <\/p>\n

\n

\u201cWe think the logic of a period of slowing after the supply chain recovery and backlog draw down is partially reflected in Cisco\u2019s shares,\u201d Leopold wrote. \u201cHowever, we doubt many appreciate the prospect for Cisco to provide limited to no sales growth over two fiscal years.\u201d<\/p>\n

Leopold added that outside of hyperscale players, \u201ccapital spending is decelerating across the majority of industries.\u201d<\/p>\n

The stock was off 0.5% in premarket trading.<\/p>\n

Read:<\/strong> Big Tech earnings have been strong, but Apple is about to answer the thousand-dollar question<\/p>\n

He\u2019s particularly focused on Cisco\u2019s campus sales, which he thinks represent about a third of company sales. That market could decline at a mid-to-high single-digit rate, according to Leopold. <\/p>\n

Investors could start seeing warning signs from Cisco shortly, in his view. \u201cWe imagine Cisco could forecast a worse than seasonal sales decline in its January quarter while customers absorb prior purchases and the macro remains weak,\u201d he noted. <\/p>\n

Leopold also took a mixed view on Cisco\u2019s pending $28 billion deal for Splunk Inc. On one had, it \u201cmakes strategic sense\u201d as it complements the company\u2019s extended detection and response (XDR) business. But the acquisition also \u201ccaps Cisco\u2019s ability to make other deals, raise its dividend or buy other companies,\u201d all while Splunk lacks differentiation relative to its peers. <\/p>\n

Don\u2019t miss: <\/strong>Cisco is buying Splunk in a $28 billion deal. Here\u2019s why.<\/p>\n

Cisco shares have advanced 8% so far this year as the Dow Jones Industrial Average
\n DJIA
\n has slipped 2%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cisco Systems Inc. likely had a strong October quarter, according to Raymond James analyst Simon Leopold, but he\u2019s still taking a more cautious view on the stock. Leopold downgraded Cisco shares CSCO, +0.02% to market perform from outperform Monday, despite \u201cencouraging\u201d industry checks regarding Cisco\u2019s October quarter, results for which the company will report Nov. […]<\/p>\n","protected":false},"author":1,"featured_media":78637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-78636","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCisco\u2019s next earnings could be strong, but this analyst is still ending his bull call | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cisco Systems Inc. likely had a strong October quarter, according to Raymond James analyst Simon Leopold, but he\u2019s still taking a more cautious view on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=78636\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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