SAN JOSE, California, August 12, 2026, 15:49 EDT — U.S. regular-session trading was still underway.
- Cisco’s stock gained 2.5% to $123.40 during early afternoon trading, initial data showed.
- Options suggest a swing of roughly 7% by Friday.
- Cisco requires about $3.7 billion in AI orders during the fourth quarter to meet its target.
Cisco Systems NASDAQ:CSCO gained 2.5% on Wednesday, ahead of its fiscal fourth-quarter earnings report. At 15:45 EDT, the stock was trading at $123.40, with the quote reported as delayed and preliminary.
The instant reaction from investors is particularly pronounced. Options pricing suggests a potential swing of approximately 7% by Friday. With Cisco valued at $485.9 billion, this reflects a change of nearly $34.0 billion.
That possible shift accounts for the bulk of Wall Street’s leftover upside. The mean target price of $136.23 is just 10.4% higher than Wednesday’s close. A single earnings move could narrow much of that distance.
| Market snapshot | Level or price | Change |
|---|---|---|
| Cisco | $123.40 | +2.47% |
| S&P 500 | 7,750.89 | +0.29% |
| Nasdaq Composite | 26,597.22 | +0.57% |
| Dow Jones Industrial Average | 53,808.15 | +0.03% |
Cisco advanced ahead of the main indexes, with modest July inflation boosting technology stocks. The S&P 500 added 0.29%, and the Nasdaq climbed 0.57%.
The consensus estimate is for quarterly revenue of $16.83 billion, representing an increase of roughly 14.7% compared to $14.67 billion in the previous year. Adjusted earnings per share are forecast to climb 18.2% to $1.17.
| Fiscal Q4 measure | Consensus | Year-earlier | Change |
|---|---|---|---|
| Revenue | $16.83 billion | $14.67 billion | +14.7% |
| Adjusted EPS | $1.17 | $0.99 | +18.2% |
| Options-implied stock move | Roughly 7% | Not comparable | Through Friday |
The revenue projection aligns closely with Cisco’s forecast range of $16.7 billion to $16.9 billion. According to UBS analysts, the key focus will likely shift from a straightforward revenue beat to outlook for fiscal 2027. They noted that shares could fall if the company issues cautious guidance.
AI deal figures offer a clearer breakdown. Cisco posted $5.3 billion up to the third quarter and subsequently increased its annual goal to $9 billion, indicating nearly $3.7 billion remains for the fourth quarter.
| AI infrastructure order assessment | Value | Percentage of FY26 objective |
|---|---|---|
| Recorded orders through fiscal Q3 | $5.3 billion | 58.9% |
| Required in fiscal Q4 | $3.7 billion | 41.1% |
| Total FY26 goal | $9.0 billion | 100% |
The bar is set high. The needed sum for the fourth quarter makes up nearly 70% of the total from the previous nine months. It is also greater than Cisco’s previously stated full-year AI revenue target of $4 billion.
Chief Executive Chuck Robbins stated that Cisco experienced “very strong, broad-based demand for our products.” Product orders climbed 35% in the third quarter, while networking orders were up over 50%. Cisco’s third-quarter release
| Analyst recommendations | Count | Share |
|---|---|---|
| Buy | 11 | 73.3% |
| Hold | 4 | 26.7% |
| Sell | 0 | 0% |
According to Google Finance, recent price targets fall between $121 and $150. Amit Daryanani of Evercore ISI and Tal Liani at Bank of America both set their targets at $150. The mean target stands at $136.23.
Risks: Cisco is valued at roughly 41 times its trailing earnings following a gain of almost 60% over the past year. Any slowdown in AI demand, margin declines or conservative forecasts could amplify moves after results.
The market shuts at 16:00 EDT, with Cisco’s results expected post-close. Wednesday’s price and related calculations are provisional until trading concludes.
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