Cisco Systems (NASDAQ:CSCO) PT Raised to $69.00

Cisco Systems (NASDAQ:CSCO) had its price target raised by stock analysts at MKM Partners from $60.00 to $69.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the network equipment provider’s stock. MKM Partners’ target price suggests a potential upside of 24.86% from the company’s current price.

Several other brokerages have also weighed in on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, September 16th. JPMorgan Chase & Co. set a $70.00 price objective on Cisco Systems in a report on Thursday, September 16th. Oppenheimer lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 19th. Raymond James raised their target price on Cisco Systems from $57.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, September 16th. Finally, Barclays raised their target price on Cisco Systems from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.90.

CSCO opened at $55.26 on Monday. The firm has a market capitalization of $233.07 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 3.01 and a beta of 0.91. The stock’s 50 day moving average price is $56.66 and its two-hundred day moving average price is $53.72. The company has a quick ratio of 1.43, a current ratio of 1.49 and a debt-to-equity ratio of 0.22. Cisco Systems has a 12-month low of $35.28 and a 12-month high of $60.27.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. The firm had revenue of $13.13 billion for the quarter, compared to analyst estimates of $13.04 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. As a group, analysts anticipate that Cisco Systems will post 3.08 earnings per share for the current year.

In other Cisco Systems news, COO Maria Martinez sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $58.52, for a total value of $234,080.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Prat Bhatt sold 3,518 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $58.40, for a total value of $205,451.20. The disclosure for this sale can be found here. Insiders have sold 64,529 shares of company stock valued at $3,827,391 over the last ninety days. 0.02% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Cisco Systems by 1.7% in the second quarter. BlackRock Inc. now owns 340,829,610 shares of the network equipment provider’s stock valued at $18,063,968,000 after purchasing an additional 5,849,767 shares during the last quarter. Vanguard Group Inc. grew its position in Cisco Systems by 0.5% during the second quarter. Vanguard Group Inc. now owns 334,670,666 shares of the network equipment provider’s stock worth $17,737,546,000 after buying an additional 1,579,250 shares in the last quarter. State Street Corp grew its position in Cisco Systems by 1.6% during the second quarter. State Street Corp now owns 179,954,574 shares of the network equipment provider’s stock worth $9,537,592,000 after buying an additional 2,760,132 shares in the last quarter. Geode Capital Management LLC grew its position in Cisco Systems by 0.7% during the second quarter. Geode Capital Management LLC now owns 69,935,509 shares of the network equipment provider’s stock worth $3,696,519,000 after buying an additional 494,757 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Cisco Systems by 1.3% during the first quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider’s stock worth $2,811,048,000 after buying an additional 710,318 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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