Cisco Systems, Inc. (NASDAQ:CSCO) Receives $55.62 Consensus Target Price from Analysts

Cisco Systems, Inc. (NASDAQ:CSCO) has earned a consensus recommendation of “Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $56.19.

Several research analysts recently issued reports on CSCO shares. DZ Bank reiterated a “hold” rating and issued a $51.00 target price on shares of Cisco Systems in a research report on Thursday, May 27th. Citigroup increased their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 19th. Credit Suisse Group set a $56.00 price objective on shares of Cisco Systems in a research note on Wednesday, August 25th. Barclays lifted their target price on shares of 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. Finally, Piper Sandler boosted their target price on Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 19th.

In other news, SVP Prat Bhatt sold 468 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $58.35, for a total value of $27,307.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Geraldine Elliott sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $59.40, for a total transaction of $2,970,000.00. The disclosure for this sale can be found here. Insiders have sold 64,529 shares of company stock worth $3,827,391 in the last three months. 0.02% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McCarthy Asset Management Inc. raised its holdings in shares of Cisco Systems by 87.8% during the second quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Better Money Decisions LLC purchased a new stake in Cisco Systems during the 1st quarter valued at $30,000. Lion Street Advisors LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at $32,000. Lake Point Wealth Management purchased a new position in shares of Cisco Systems in the 2nd quarter worth $36,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Cisco Systems by 43.2% in the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock worth $37,000 after acquiring an additional 216 shares during the period. Institutional investors own 71.92% of the company’s stock.

NASDAQ:CSCO traded up $0.51 during trading hours on Friday, hitting $58.38. The stock had a trading volume of 871,898 shares, compared to its average volume of 18,916,217. The company has a 50 day simple moving average of $56.34 and a two-hundred day simple moving average of $53.33. The firm has a market capitalization of $246.23 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 3.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.49 and a quick ratio of 1.43. Cisco Systems has a one year low of $35.28 and a one year high of $60.27.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The firm had revenue of $13.13 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter last year, the company posted $0.80 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems will post 3.08 earnings per share for the current year.

About Cisco Systems

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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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