Cisco Systems PT Raised to $29.00 (CSCO)
Equities research analysts at Cantor Fitzgerald increased their price target on shares of Cisco Systems (NASDAQ:CSCO) from $27.50 to $29.00 in a research note issued to investors on Thursday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 27.14% from the company’s current price.
A number of other analysts have also recently weighed in on CSCO. Analysts at Janney Montgomery Scott raised their price target on shares of Cisco Systems from $23.00 to $25.00 in a research note on Thursday. Separately, 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. Finally, 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. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.46.
Cisco Systems (NASDAQ:CSCO) traded up 7.98% on Thursday, hitting $24.63. The stock had a trading volume of 59,573,824 shares. 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 recipient 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 shares are short sold. Based on an average daily volume of 31,120,368 shares, the days-to-cover 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 (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. Analysts expect that Cisco Systems will post $1.99 EPS 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.
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.