Cisco Systems (NASDAQ:CSCO) PT Raised to $64.00

Cisco Systems (NASDAQ:CSCO – Get Rating) had its price objective upped by analysts at Raymond James from $63.00 to $64.00 in a research note issued to investors on Thursday, The Fly reports. Raymond James’ price target points to a potential upside of 30.27% from the company’s previous close.

CSCO has been the topic of several other reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the company a “hold” rating in a report on Wednesday, February 22nd. JPMorgan Chase & Co. raised their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Cowen upped their price target on Cisco Systems from $61.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Morgan Stanley raised their price objective on Cisco Systems from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Cisco Systems Trading Up 1.9 %

Shares of Cisco Systems stock opened at $49.13 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.30. The stock’s 50 day simple moving average is $48.92 and its 200-day simple moving average is $48.24. The stock has a market cap of $201.23 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.20 and a beta of 1.00. Cisco Systems has a 1-year low of $38.60 and a 1-year high of $52.56.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Cisco Systems had a return on equity of 32.01% and a net margin of 20.89%. The company had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the prior year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts predict that Cisco Systems will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 608 shares of Cisco Systems stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the completion of the transaction, the senior vice president now owns 50,162 shares in the company, valued at $2,444,895.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the sale, the senior vice president now directly owns 50,162 shares of the company’s stock, valued at approximately $2,444,895.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 20,117 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $49.08, for a total transaction of $987,342.36. Following the transaction, the chief executive officer now owns 798,970 shares of the company’s stock, valued at approximately $39,213,447.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,867 shares of company stock worth $1,170,243. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Financial Solutions LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $25,000. Steward Financial Group LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $26,000. My Personal CFO LLC purchased a new position in Cisco Systems during the 4th quarter worth $27,000. Altshuler Shaham Ltd acquired a new position in Cisco Systems in the first quarter valued at $32,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $34,000. 71.10% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

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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 products include 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.