Cisco Systems PT Raised to $26.00 at MKM Partners (CSCO)
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.
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