Stock analysts at Stifel Nicolaus upped their price objective on shares of Cisco Systems (NASDAQ:CSCO) from $25.00 to $28.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 14.85% from the stock’s previous close.
CSCO has been the subject of a number of other recent research reports. Analysts at FBN Securities raised their price target on shares of Cisco Systems to $28.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. Separately, analysts at Argus raised their price target on shares of Cisco Systems from $27.00 to $30.00 in a research note on Thursday, May 15th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, May 15th. They now have a $24.00 price target on the stock. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.06.
In other Cisco Systems news, CMO Katherine Blair Christie sold 240,772 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $24.33, for a total value of $5,857,982.76. Following the sale, the chief marketing officer now directly owns 299,050 shares in the company, valued at approximately $7,275,887. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 24.38 on Wednesday. Cisco Systems has a one year low of $20.22 and a one year high of $26.49. The stock has a 50-day moving average of $23.22 and a 200-day moving average of $22.28. The company has a market cap of $125.4 billion and a price-to-earnings ratio of 16.52.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.04 earnings per share for the current fiscal year.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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