Cisco Systems (NASDAQ:CSCO) Price Target Increased to $60.00 by Analysts at Evercore ISI

Cisco Systems (NASDAQ:CSCO) had its target price hoisted by research analysts at Evercore ISI from $55.00 to $60.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the network equipment provider’s stock. Evercore ISI’s target price suggests a potential upside of 16.64% from the company’s previous close.

CSCO has been the subject of several other research reports. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.11.

Cisco Systems Stock Up 1.7 %

Cisco Systems stock opened at $51.44 on Friday. Cisco Systems has a 52 week low of $44.50 and a 52 week high of $56.05. The stock has a market cap of $207.24 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.83. The company’s 50-day moving average price is $48.43 and its two-hundred day moving average price is $48.03. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share. On average, analysts expect that Cisco Systems will post 2.9 EPS for the current fiscal year.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale 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 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last three months. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cisco Systems

A number of large investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the second quarter worth about $25,000. Quarry LP raised 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 valued at $31,000 after acquiring an additional 456 shares in the last quarter. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth approximately $36,000. Finally, Tidemark LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $41,000. 73.33% of the stock is currently owned by institutional investors.

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.