Cisco stock sinks 5% after Piper Sandler cuts price target on growth concerns

Piper Sandler cut its price target on Cisco to $125 from $132, citing concerns that industry growth is peaking. Cisco shares fell about 5% on Tuesday, though they are up roughly 56% over the past 12 months amid the AI boom.

• Piper Sandler cut Cisco's price target to $125 from $132
• Cisco shares dropped about 5% on Tuesday
• The stock is up about 56% over the past 12 months on AI demand
• Cisco's hyperscaler revenue was ~$4B in FY2026, expected to near $7.5B in FY2027