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

Cisco Systems (NASDAQ:CSCO) had its price target upped by stock analysts at Barclays from $49.00 to $56.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the network equipment provider’s stock. Barclays‘s price target would indicate a potential downside of 2.54% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Morgan Stanley upped their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.42.

Cisco Systems Stock Down 0.8 %

Cisco Systems stock opened at $57.46 on Thursday. The company has a 50 day moving average of $54.18 and a 200-day moving average of $49.76. 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 twelve month low of $44.50 and a twelve month high of $59.38. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.90 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 the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that Cisco Systems will post 2.89 EPS for the current fiscal year.

Insider Transactions at Cisco Systems

In other Cisco Systems 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 transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cisco Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after purchasing an additional 18,339 shares during the period. M&G Plc purchased a new stake in Cisco Systems in the 1st quarter worth about $46,071,000. Mizuho Markets Americas LLC lifted its stake in shares of Cisco Systems by 90.0% during the 1st quarter. Mizuho Markets Americas LLC now owns 650,818 shares of the network equipment provider’s stock worth $32,482,000 after acquiring an additional 308,300 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in shares of Cisco Systems during the first quarter worth $2,200,000. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in Cisco Systems by 4.8% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 178,218 shares of the network equipment provider’s stock valued at $8,895,000 after buying an additional 8,210 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

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.