Cisco Systems’s “Equal Weight” Rating Reaffirmed at Barclays (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “equal weight” rating reiterated by equities research analysts at Barclays in a research note issued to investors on Thursday. They currently have a $26.00 price objective on the stock, up from their previous price objective of $25.00. Barclays’ price target indicates a potential upside of 3.17% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Nomura raised their price target on shares of Cisco Systems to $29.00 in a research note on Thursday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.39.
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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 3.02% on Thursday, hitting $24.4379. The stock had a trading volume of 16,647,181 shares. 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 $125.2 billion and a price-to-earnings ratio of 17.00. Cisco Systems also was the target of some unusual options trading activity on Monday. Stock traders acquired 27,362 put options on the company. This is an increase of approximately 119% compared to the typical 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 for the quarter, beating the analysts’ 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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