Share on StockTwits

Equities research analysts at MKM Partners increased their target price on shares of Cisco Systems (NASDAQ:CSCO) from $24.00 to $26.00 in a research note issued to investors on Monday, ARN reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price target indicates a potential upside of 12.12% from the company’s current price.

Cisco Systems (NASDAQ:CSCO) traded up 0.74% during mid-day trading on Monday, hitting $23.19. The stock had a trading volume of 40,217,552 shares. Cisco Systems has a one year low of $20.22 and a one year high of $26.49. The stock’s 50-day moving average is $22.8 and its 200-day moving average is $22.20. The company has a market cap of $119.5 billion and a P/E ratio of 15.13. Cisco Systems also saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 73,104,530 shares, a drop of 3.2% from the April 15th total of 75,490,266 shares. Based on an average daily volume of 31,120,368 shares, the short-interest ratio is presently 2.3 days. Currently, 1.4% of the company’s stock are short sold.

Cisco Systems (NASDAQ:CSCO) last released its earnings data on Wednesday, February 12th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts expect that Cisco Systems will post $1.99 EPS for the current fiscal year.

CSCO has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Cisco Systems in a research note on Monday. They now have a $20.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Tuesday, April 22nd. They now have a $25.00 price target on the stock. Finally, analysts at Standpoint Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.33.

Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-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.