Cisco Systems (NASDAQ:CSCO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Cisco Systems (NASDAQ:CSCO) had its target price upped by equities researchers at Piper Sandler from $52.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the network equipment provider’s stock. Piper Sandler’s price target would suggest a potential downside of 3.68% from the stock’s current price.

A number of other equities research analysts also recently commented on CSCO. Barclays lowered their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Twelve equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $57.79.

Cisco Systems Trading Up 0.8 %

Shares of CSCO opened at $59.18 on Thursday. The firm’s 50-day moving average is $53.82 and its two-hundred day moving average is $49.64. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $59.38. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $236.17 billion, a P/E ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83.

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

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.01% of the stock is owned by company insiders.

Institutional Trading of Cisco Systems

Several hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter worth about $25,000. West Financial Advisors LLC raised its position in shares of 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. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the third quarter valued at approximately $40,000. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth approximately $36,000. 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.