Cisco Systems’ (CSCO) Outperform Rating Reaffirmed at Oppenheimer Holdings, Inc.
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Sunday. They presently have a $36.00 target price on the network equipment provider’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 18.54% from the stock’s current price. Oppenheimer Holdings also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.54 EPS.
Several other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.45 to $39.00 in a report on Monday, May 15th. Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Barclays PLC restated an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Fourteen research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.47.
Cisco Systems (NASDAQ:CSCO) traded down 2.16% on Friday, reaching $30.37. 34,802,193 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $31.48 and its 200 day moving average is $32.55. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The company has a market cap of $151.64 billion, a price-to-earnings ratio of 15.98 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. On average, equities analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current year.
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In other news, SVP Karen Walker sold 7,802 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The stock was 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 of the company’s stock, 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 valued at $12,503,407 in the last quarter. 0.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CSCO. First Hawaiian Bank bought a new stake in shares of Cisco Systems during the first quarter worth about $215,000. Syntal Capital Partners LLC bought a new stake in shares of Cisco Systems during the first quarter worth about $257,000. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Hefty Wealth Partners boosted its stake in shares of Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares during the period. Finally, Atlas Brown Inc. boosted its stake in shares of Cisco Systems by 4.6% in the second quarter. Atlas Brown Inc. now owns 9,777 shares of the network equipment provider’s stock worth $306,000 after buying an additional 430 shares during the period. 75.28% of the stock is currently 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).
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