Cisco Systems, Inc. (NASDAQ:CSCO) has been given a $36.00 target price by equities researchers at Citigroup Inc in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the network equipment provider’s stock. Citigroup Inc’s target price indicates a potential upside of 15.35% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price target on shares of Cisco Systems from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $33.00 price target on shares of Cisco Systems in a research report on Thursday, February 16th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a research report on Wednesday, April 26th. Finally, Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $33.45 to $39.00 in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.23.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Cisco Systems (NASDAQ:CSCO) traded down 0.54% during midday trading on Friday, hitting $31.21. 39,859,249 shares of the stock were exchanged. The firm has a 50 day moving average of $33.35 and a 200-day moving average of $32.03. Cisco Systems has a 12-month low of $27.13 and a 12-month high of $34.60. The stock has a market cap of $156.21 billion, a price-to-earnings ratio of 15.84 and a beta of 1.36.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. During the same period last year, the company earned $0.57 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Cisco Systems will post $2.38 earnings per share for the current year.

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In related news, insider John T. Chambers sold 295,538 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $34.06, for a total value of $10,066,024.28. Following the completion of the sale, the insider now owns 1,220,581 shares of the company’s stock, valued at $41,572,988.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. West acquired 3,027 shares of Cisco Systems stock in a transaction that occurred on Wednesday, February 22nd. The stock was bought at an average cost of $33.92 per share, with a total value of $102,675.84. Following the acquisition, 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 sold 371,807 shares of company stock valued at $12,668,893 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Cisco Systems by 3.3% in the first quarter. Vanguard Group Inc. now owns 344,708,803 shares of the network equipment provider’s stock valued at $11,651,157,000 after buying an additional 10,974,259 shares during the last quarter. BlackRock Inc. increased its stake in Cisco Systems by 2,421.0% in the first quarter. BlackRock Inc. now owns 339,316,584 shares of the network equipment provider’s stock valued at $11,468,902,000 after buying an additional 325,856,721 shares during the last quarter. State Street Corp increased its stake in Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock valued at $6,605,412,000 after buying an additional 5,886,055 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Cisco Systems by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 123,367,471 shares of the network equipment provider’s stock valued at $3,913,216,000 after buying an additional 10,435,264 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Cisco Systems by 9.8% in the first quarter. Wellington Management Group LLP now owns 111,529,451 shares of the network equipment provider’s stock valued at $3,769,695,000 after buying an additional 9,958,755 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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).

12 Month Chart for NASDAQ:CSCO

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