Cisco Systems (NASDAQ:CSCO) Price Target Raised to $62.00

Cisco Systems (NASDAQ:CSCO) had its price objective raised by stock analysts at Morgan Stanley from $58.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the network equipment provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.77% from the stock’s previous close.

CSCO has been the subject of several other research reports. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.79.

Cisco Systems Stock Performance

Cisco Systems stock opened at $59.18 on Thursday. The firm’s 50 day simple moving average is $53.82 and its 200 day simple moving average is $49.64. The firm has a market capitalization of $236.17 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. 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 has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its 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 business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, analysts expect that Cisco Systems will post 2.89 earnings per share for the current fiscal year.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred 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 sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. grew its position in Cisco Systems by 2.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 8,115 shares of the network equipment provider’s stock valued at $431,000 after buying an additional 220 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Cisco Systems by 74.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 97,326 shares of the network equipment provider’s stock worth $5,160,000 after purchasing an additional 41,625 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Cisco Systems by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock valued at $9,336,000 after purchasing an additional 19,800 shares in the last quarter. Tybourne Capital Management HK Ltd. bought a new stake in Cisco Systems during the third quarter valued at about $744,000. Finally, Providence Capital Advisors LLC lifted its position in shares of Cisco Systems by 0.3% during the 3rd quarter. Providence Capital Advisors LLC now owns 174,153 shares of the network equipment provider’s stock valued at $9,268,000 after buying an additional 468 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

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.