Cisco Systems’ (CSCO) “Outperform” Rating Reaffirmed at Cowen and Company
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reaffirmed by research analysts at Cowen and Company in a note issued to investors on Wednesday. They currently have a $39.00 price objective on the network equipment provider’s stock. Cowen and Company’s price target would suggest a potential upside of 20.59% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on CSCO. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, July 1st. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, August 10th. Finally, Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective for the company. in a research report on Wednesday. Fourteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and an average target price of $35.31.
Cisco Systems (CSCO) traded up 0.78% during midday trading on Wednesday, reaching $32.34. 29,039,743 shares of the company were exchanged. The stock has a market capitalization of $161.70 billion, a price-to-earnings ratio of 16.42 and a beta of 1.24. The firm’s 50-day moving average price is $31.53 and its 200 day moving average price is $32.57. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Stock traders bought 24,568 put options on the company. This represents an increase of approximately 223% compared to the typical daily volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts predict that Cisco Systems will post $2.38 earnings per share for the current year.
In other news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares in the company, valued at approximately $5,587,674.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock worth $12,503,407 in the last quarter. 0.11% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CSCO. Lowe FS raised its stake in shares of Cisco Systems by 714.3% in the third quarter. Lowe FS now owns 570 shares of the network equipment provider’s stock worth $15,000 after buying an additional 500 shares in the last quarter. Proficio Capital Partners purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $31,000. Barnett & Company Inc. raised its stake in shares of Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
Cisco Systems Company Profile
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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