Barclays Lowers Cisco Systems Price Target to $27.00 (CSCO)
Barclays lowered their price target on shares of Cisco Systems (NASDAQ:CSCO) from $30.00 to $27.00 in a research note issued on Monday, American Banking News reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 19.65% from the company’s current price.
Cisco Systems (NASDAQ:CSCO) traded up 0.16% during mid-day trading on Monday, hitting $22.60. 12,110,545 shares of the company’s stock traded hands. Cisco Systems has a 1-year low of $16.68 and a 1-year high of $26.49. The stock’s 50-day moving average is $23.28 and its 200-day moving average is $23.7. The company has a market cap of $121.2 billion and a price-to-earnings ratio of 12.13.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.40 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Cisco Systems will post $2.11 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CSCO. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Monday. Separately, analysts at MKM Partners downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 16th. They now have a $26.00 price target on the stock, down previously from $28.00. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $39.66.
Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.