Cisco Systems Price Target Increased to $25.00 by Analysts at Deutsche Bank (CSCO)
Equities researchers at Deutsche Bank boosted their target price on shares of Cisco Systems (NASDAQ:CSCO) from $24.00 to $25.00 in a research report issued on Thursday, AnalystRatings.NET reports. Deutsche Bank’s target price points to a potential upside of 9.60% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets raised their price target on shares of Cisco Systems from $25.00 to $27.00 in a research note on Thursday. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday. They now have a $28.00 price target on the stock, up previously from $25.00. Finally, analysts at Oppenheimer raised their price target on shares of Cisco Systems from $25.00 to $27.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and a consensus target price of $25.46.
Cisco Systems (NASDAQ:CSCO) traded up 8.02% on Thursday, hitting $24.64. The stock had a trading volume of 59,718,964 shares. Cisco Systems has a one year low of $20.22 and a one year high of $26.49. The stock has a 50-day moving average of $22.92 and a 200-day moving average of $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 days-to-cover ratio is presently 2.3 days.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. 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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