Citigroup Issues Positive Forecast for Cisco Systems (NASDAQ:CSCO) Stock Price

Cisco Systems (NASDAQ:CSCO) had its target price boosted by analysts at Citigroup from $62.00 to $64.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the network equipment provider’s stock. Citigroup’s target price points to a potential upside of 10.15% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $59.42.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $1.08 on Thursday, reaching $58.10. The stock had a trading volume of 15,392,681 shares, compared to its average volume of 19,021,064. The company has a market capitalization of $231.86 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. The stock has a fifty day moving average price of $53.82 and a 200-day moving average price of $49.64. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems has a 1-year low of $44.50 and a 1-year high of $59.38.

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 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 period in the prior year, the company earned $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. Research analysts forecast that Cisco Systems will post 2.89 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade 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 is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last quarter. 0.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cisco Systems

Several hedge funds have recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of Cisco Systems during the 1st quarter worth about $840,538,000. FMR LLC grew its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after purchasing an additional 4,842,542 shares during the period. Finally, Natixis grew its holdings in Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after buying an additional 4,010,228 shares in the last quarter. 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.