Equities research analysts at Pacific Crest decreased their price target on shares of Cisco Systems (NASDAQ:CSCO) from $30.00 to $27.00 in a research note issued to investors on Thursday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price target would suggest a potential upside of 26.37% from the company’s current price.
A number of other analysts have also recently weighed in on CSCO. Analysts at MKM Partners cut their price target on shares of Cisco Systems from $26.00 to $20.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Janney Montgomery Scott cut their price target on shares of Cisco Systems from $25.00 to $23.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at FBN Securities cut their price target on shares of Cisco Systems from $29.00 to $24.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $25.18.
Cisco Systems (NASDAQ:CSCO) traded down 10.96% on Thursday, hitting $21.365. 243,251,264 shares of the company’s stock traded hands. Cisco Systems has a 1-year low of $17.74 and a 1-year high of $26.49. The stock has a 50-day moving average of $23.04 and a 200-day moving average of $23.89. The company has a market cap of $114.5 billion and a price-to-earnings ratio of 12.90. Cisco Systems also saw some unusual options trading activity on Monday. Stock investors bought 47,603 put options on the stock. This represents an increase of approximately 121% compared to the typical volume of 21,581 put options.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.02. The company had revenue of $12.09 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same quarter last year, the company posted $0.48 earnings per share. Cisco Systems’s revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.10 earnings per share for the current fiscal year.
Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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