Why Is Cisco (CSCO) Stock Down 4.50% Today, Sep 22? Piper Sandler Cuts Target to $125 on Slower Growth Concerns

Cisco fell 4.5% after Piper Sandler cut its price target to 125, citing slowing networking-industry growth and lower sector valuation multiples. The downgrade triggered above-average volume and profit-taking following an AI-infrastructure driven rerating, refocusing attention on whether demand can sustain elevated expectations. Near-term sentiment is pressured while shares trade below key moving averages, and additional analyst revisions or softer networking growth could reinforce the de-risking impulse.