Piper Sandler Boosts Cisco Systems (NASDAQ:CSCO) Price Target to $57.00

Cisco Systems (NASDAQ:CSCO) had its price target upped by research analysts at Piper Sandler from $52.00 to $57.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the network equipment provider’s stock. Piper Sandler’s target price would suggest a potential downside of 0.80% from the stock’s current price.

A number of other brokerages have also weighed in on CSCO. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Barclays reduced their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

Cisco Systems Stock Performance

Shares of CSCO opened at $57.46 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market cap of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $59.38. The stock has a fifty day moving average price of $54.00 and a 200-day moving average price of $49.69.

Cisco Systems (NASDAQ:CSCO) last released its 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. The company had revenue of $13.64 billion during 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%. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. Equities research analysts predict that Cisco Systems will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,924 shares of company stock valued at $1,798,131. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several large investors have recently added to or reduced their stakes in the stock. Valued Retirements Inc. acquired a new stake in Cisco Systems in the 3rd quarter valued at approximately $264,000. Frisch Financial Group Inc. raised its stake in shares of Cisco Systems by 5.8% during the third quarter. Frisch Financial Group Inc. now owns 7,889 shares of the network equipment provider’s stock valued at $420,000 after purchasing an additional 430 shares in the last quarter. Raelipskie Partnership acquired a new stake in Cisco Systems in the third quarter worth about $1,598,000. LRI Investments LLC increased its stake in Cisco Systems by 104.3% during the 3rd quarter. LRI Investments LLC now owns 20,514 shares of the network equipment provider’s stock valued at $1,188,000 after buying an additional 10,472 shares during the period. Finally, Harvest Investment Advisors LLC raised its position in shares of Cisco Systems by 2.2% during the 3rd quarter. Harvest Investment Advisors LLC now owns 29,965 shares of the network equipment provider’s stock worth $1,595,000 after buying an additional 645 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

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.