BMO Capital Markets Increases Cisco Systems Price Target to $28.00 (CSCO)
Stock analysts at BMO Capital Markets boosted their target price on shares of Cisco Systems (NASDAQ:CSCO) from $27.00 to $28.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 11.11% from the stock’s previous close.
In other Cisco Systems news, EVP Pankaj Patel sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $24.92, for a total transaction of $2,492,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
CSCO has been the subject of a number of other recent research reports. Analysts at MKM Partners raised their price target on shares of Cisco Systems from $27.00 to $28.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday. They now have a $26.00 price target on the stock, up previously from $25.00. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Cisco Systems in a research note on Thursday. They now have a $20.00 price target on the stock, down previously from $28.00. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.61.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 2.56% during mid-day trading on Thursday, hitting $24.555. 42,203,880 shares of the company’s stock traded hands. Cisco Systems has a 52 week low of $20.22 and a 52 week high of $26.08. The stock’s 50-day moving average is $25.33 and its 200-day moving average is $23.59. The company has a market cap of $125.8 billion and a P/E ratio of 17.00. Cisco Systems also was the recipient of some unusual options trading activity on Monday. Traders acquired 27,362 put options on the stock. This is an increase of 119% compared to the average daily volume of 12,486 put options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 13th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.14 billion. 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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