Image: Cisco’s shares have been choppy the past couple years.
Looking to fiscal 2025, Cisco Systems expects revenue in the range of $55.3-$56.3 billion, up from a prior view of $55-$56.2 billion, and non-GAAP earnings per share in the range of $3.60-$3.66, up from $3.52-$3.58 previously. We like Cisco’s progression to a subscription base business model, its opportunities in artificial intelligence, while its forward price-to-earnings ratio remains attractive at roughly 16x current fiscal year earnings. The high end of our fair value estimate range is $67 per share.
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