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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.

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