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

Cisco Systems (NASDAQ:CSCO) had its price objective raised by equities research analysts at Evercore from $100.00 to $110.00 in a research report issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the network equipment provider’s stock. Evercore’s price target would indicate a potential upside of 16.76% from the stock’s current price.

Other analysts also recently issued reports about the company. HSBC increased their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. UBS Group lifted their target price on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Citigroup upped their price target on Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Zacks Research cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Truist Financial initiated coverage on shares of Cisco Systems in a report on Tuesday, March 31st. They set a “buy” rating and a $94.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.29.

Cisco Systems Stock Up 1.7%

Shares of NASDAQ CSCO opened at $94.21 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The company has a 50-day moving average price of $81.46 and a 200-day moving average price of $78.07. The stock has a market capitalization of $372.13 billion, a P/E ratio of 33.03, a P/E/G ratio of 3.46 and a beta of 0.92. Cisco Systems has a 1 year low of $58.58 and a 1 year high of $94.11.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,744 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the transaction, the executive vice president owned 156,693 shares of the company’s stock, valued at approximately $12,076,329.51. The trade was a 1.10% 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 link. Also, EVP Oliver Tuszik sold 3,132 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the transaction, the executive vice president owned 188,613 shares of the company’s stock, valued at $15,040,000.62. This trade represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 in the last ninety days. 0.01% of the stock is owned by corporate insiders.

Institutional Trading of Cisco Systems

Several hedge funds have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $25,000. MidAtlantic Capital Management Inc. purchased a new position in Cisco Systems in the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new position in Cisco Systems in the fourth quarter valued at approximately $25,000. Networth Advisors LLC grew its holdings in Cisco Systems by 276.4% during the first quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock valued at $26,000 after purchasing an additional 246 shares during the period. Finally, Financial Life Planners purchased a new stake in Cisco Systems in the first quarter worth $27,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.