Cisco Systems PT Raised to $28.00 (CSCO)
Equities research analysts at Sterne Agee upped their price target on shares of Cisco Systems (NASDAQ:CSCO) from $26.00 to $28.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Sterne Agee’s price target points to a potential upside of 11.11% from the stock’s previous close.
Cisco Systems (NASDAQ:CSCO) traded down 2.56% during mid-day trading on Thursday, hitting $24.555. 38,717,164 shares of the company’s stock traded hands. Cisco Systems has a one year low of $20.22 and a one year 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 target of unusually large options trading on Monday. Stock investors purchased 27,362 put options on the stock. This is an increase of approximately 119% compared to the average daily volume of 12,486 put options.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Cisco Systems from $30.00 to $33.00 in a research note on Thursday. Separately, analysts at BMO Capital Markets raised their price target on shares of Cisco Systems from $27.00 to $28.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.61.
In other Cisco Systems news, EVP Pankaj Patel sold 100,000 shares of the stock on the open market in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $24.92, for a total transaction of $2,492,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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