Cisco Systems (NASDAQ:CSCO) Price Target Raised to $57.00

Cisco Systems (NASDAQ:CSCO) had its price target raised by investment analysts at Piper Sandler from $52.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the network equipment provider’s stock. Piper Sandler’s price target indicates a potential downside of 3.68% from the stock’s previous close.

A number of other equities research analysts have also commented on CSCO. Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Morgan Stanley increased their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a report on Monday. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.79.

Cisco Systems Trading Up 0.8 %

Shares of NASDAQ:CSCO opened at $59.18 on Thursday. The stock has a market capitalization of $236.17 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83. Cisco Systems has a 1-year low of $44.50 and a 1-year high of $59.38. The company has a 50 day moving average price of $53.82 and a 200 day moving average price of $49.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, research analysts anticipate that Cisco Systems will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems in the second quarter worth $25,000. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.