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Stock analysts at Morgan Stanley initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a report issued on Wednesday. The firm set an “overweight” rating and a $30.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 22.45% from the company’s current price.

In other Cisco Systems news, EVP Pankaj Patel sold 35,865 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $24.70, for a total transaction of $885,865.50. The sale was disclosed in a filing with the SEC, which is available at this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 27th. They now have a $30.00 price target on the stock, up previously from $25.00. Separately, analysts at ISI Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. They now have a $28.00 price target on the stock, up previously from $25.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Cisco Systems from $25.00 to $28.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $26.31.

Cisco Systems (NASDAQ:CSCO) opened at 24.50 on Wednesday. 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 $24.04 and its 200-day moving average is $22.60. The company has a market cap of $125.5 billion and a price-to-earnings ratio of 16.55. Cisco Systems also was the target of a significant drop in short interest during the month of May. As of May 30th, there was short interest totalling 65,847,388 shares, a drop of 13.0% from the May 15th total of 75,663,677 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 36,898,009 shares, the short-interest ratio is presently 1.8 days.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.04 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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