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Cisco Systems (NASDAQ:CSCO)‘s stock had its “sell” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $20.50 price objective on the stock, up from their previous price objective of $18.00. Citigroup Inc.’s target price would suggest a potential downside of 18.10% from the stock’s previous close.

In other Cisco Systems news, EVP Pankaj Patel unloaded 100,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $24.92, for a total value of $2,492,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cisco Systems (NASDAQ:CSCO) traded up 1.16% during mid-day trading on Monday, hitting $25.32. The stock had a trading volume of 13,969,878 shares. Cisco Systems has a 52 week low of $20.22 and a 52 week high of $26.48. The stock’s 50-day moving average is $25.27 and its 200-day moving average is $23.52. The company has a market cap of $129.7 billion and a P/E ratio of 16.89.

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. Analysts expect that Cisco Systems will post $2.04 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of Cisco Systems from $27.00 to $29.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Separately, analysts at Pacific Crest downgraded shares of Cisco Systems from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 28th. They now have a $26.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Cisco Systems from $24.00 to $28.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $26.35.

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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