Cisco Systems PT Raised to $33.00 (CSCO)
Investment analysts at Cowen and Company lifted their target price on shares of Cisco Systems (NASDAQ:CSCO) from $30.00 to $33.00 in a note issued to investors on Thursday. Cowen and Company’s price objective would suggest a potential upside of 30.95% from the company’s current price.
In other Cisco Systems news, EVP Pankaj Patel sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $24.92, for a total value of $2,492,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 2.56% on Thursday, hitting $24.555. 38,717,164 shares of the company’s stock traded hands. Cisco Systems has a 1-year low of $20.22 and a 1-year high of $26.08. The stock has a 50-day moving average of $25.33 and a 200-day moving average of $23.59. The company has a market cap of $125.8 billion and a price-to-earnings ratio of 17.00. Cisco Systems also was the target of some unusual options trading activity on Monday. Investors acquired 27,362 put options on the company. This represents 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 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. Analysts expect that Cisco Systems will post $2.04 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.61.
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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