Cisco Systems (CSCO) Stock Lower; CFRA With A Strong Buy Rating

Cisco Systems (CSCO) stock price today was down over 13% and hit a 52-week low. The earnings report indicated $0.87 in EPS and $12.8B in revenue. "The Cisco Systems product demand is there. Looking forward, the company mentioned the China shutdown and that they are only facing shortages on a small percentage of components," says Keith Snyder. CFRA maintains a strong buy rating on the CSCO stock. "The flat year-over-year revenue is an indication of slowing sales across several international markets. The major concern for Cisco is the slowing enterprise spend on digital infrastructure," adds Kevin Green.