Deutsche Bank Reiterates “Buy” Rating for Cisco Systems (CSCO)
Cisco Systems (NASDAQ:CSCO) opened at 25.20 on Thursday. 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 $129.1 billion and a price-to-earnings ratio of 16.97. Cisco Systems also saw unusually large options trading on Monday. Traders purchased 27,362 put options on the stock. This is an increase of 119% compared to the average 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. On average, analysts predict that Cisco Systems will post $2.04 earnings per share for the current fiscal year.
In other Cisco Systems news, EVP Pankaj Patel unloaded 100,000 shares of Cisco Systems stock on the open market 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Cisco Systems from $28.00 to $30.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Cisco Systems in a research note on Monday. They now have a $20.50 price target on the stock, up previously from $18.00. Finally, 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. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $26.30.
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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