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Janney Montgomery Scott raised their price objective on shares of Cisco Systems (NASDAQ:CSCO) from $23.00 to $25.00 in a research note issued on Thursday, AnalystRatings.Net reports. Janney Montgomery Scott’s price objective would suggest a potential upside of 9.60% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray raised their price target on shares of Cisco Systems from $24.00 to $26.00 in a research note on Thursday. Separately, analysts at Pacific Crest raised their price target on shares of Cisco Systems from $25.00 to $26.00 in a research note on Thursday. Finally, analysts at Deutsche Bank raised their price target on shares of Cisco Systems from $24.00 to $25.00 in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.46.

Shares of Cisco Systems (NASDAQ:CSCO) traded up 7.98% during mid-day trading on Thursday, hitting $24.63. 59,586,672 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.49. The stock’s 50-day moving average is $22.92 and its 200-day moving average is $22.20. The company has a market cap of $126.9 billion and a P/E ratio of 15.00. Cisco Systems also was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 73,104,530 shares, a decline of 3.2% from the April 15th total of 75,490,266 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 31,120,368 shares, the short-interest ratio is currently 2.3 days.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter last year, the company posted $0.51 earnings per share. Cisco Systems’s revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $1.99 earnings per share for the current fiscal year.

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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