Cisco Systems, Inc. (CSCO) Earns “Outperform” Rating from Cowen and Company
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating restated by analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $39.00 target price on the network equipment provider’s stock. Cowen and Company’s price target would suggest a potential upside of 24.96% from the company’s previous close.
A number of other brokerages have also commented on CSCO. Royal Bank of Canada boosted their price target on Cisco Systems from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. William Blair restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, February 16th. BMO Capital Markets restated an “outperform” rating and issued a $33.00 price target on shares of Cisco Systems in a report on Thursday, February 16th. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a report on Wednesday, April 26th. Finally, Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $33.45 to $39.00 in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.09.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.21 on Friday. Cisco Systems has a 1-year low of $27.13 and a 1-year high of $34.60. The stock’s 50 day moving average price is $33.35 and its 200-day moving average price is $32.03. The stock has a market capitalization of $156.21 billion, a P/E ratio of 15.84 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. Equities research analysts anticipate that Cisco Systems will post $2.38 EPS for the current fiscal year.
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In other Cisco Systems news, SVP Prat Bhatt sold 15,672 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total transaction of $537,079.44. Following the completion of the sale, the senior vice president now directly owns 77,174 shares in the company, valued at $2,644,752.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven M. West bought 3,027 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were acquired at an average price of $33.92 per share, with a total value of $102,675.84. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $125,504. The disclosure for this purchase can be found here. Insiders have sold 371,807 shares of company stock valued at $12,668,893 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. boosted its stake in Cisco Systems by 44.6% in the third quarter. Dubuque Bank & Trust Co. now owns 340,949 shares of the network equipment provider’s stock valued at $10,815,000 after buying an additional 105,162 shares during the last quarter. Bailard Inc. boosted its stake in Cisco Systems by 40.4% in the third quarter. Bailard Inc. now owns 231,621 shares of the network equipment provider’s stock valued at $7,347,000 after buying an additional 66,612 shares during the last quarter. First Personal Financial Services boosted its stake in Cisco Systems by 9.8% in the third quarter. First Personal Financial Services now owns 121,998 shares of the network equipment provider’s stock valued at $3,870,000 after buying an additional 10,896 shares during the last quarter. Glenview Trust Co acquired a new stake in Cisco Systems during the fourth quarter valued at $17,046,000. Finally, Navellier & Associates Inc boosted its stake in Cisco Systems by 15.5% in the third quarter. Navellier & Associates Inc now owns 76,574 shares of the network equipment provider’s stock valued at $2,429,000 after buying an additional 10,292 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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