Tigress Financial Increases Cisco Systems (NASDAQ:CSCO) Price Target to $78.00

Cisco Systems (NASDAQ:CSCO) had its price objective increased by equities researchers at Tigress Financial from $76.00 to $78.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the network equipment provider’s stock. Tigress Financial’s target price would suggest a potential upside of 44.23% from the company’s previous close.

Several other equities analysts have also commented on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.21.

Cisco Systems Stock Performance

Cisco Systems stock opened at $54.08 on Monday. The stock’s 50 day moving average price is $50.51 and its 200 day moving average price is $48.45. The firm has a market capitalization of $217.88 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems has a one year low of $44.50 and a one year high of $54.61.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, sell-side analysts expect that Cisco Systems will post 2.9 EPS for the current fiscal year.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Institutional Trading of Cisco Systems

Several institutional investors have recently modified their holdings of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems during the second quarter valued at about $25,000. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Quarry LP boosted its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. Retirement Group LLC boosted its stake in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at about $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About Cisco Systems

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.