Trading Report: The Cisco Systems Inc. (CSCO) Given a $34.00 Price Target by Oppenheimer Holdings Inc. Analysts

The Cisco Systems Inc. (CSCO) Given a $34.00 Price Target by Oppenheimer Holdings Inc. Analysts

Cisco Systems Inc. (NASDAQ:CSCO) received a $34.00 price objective from equities research analysts at Oppenheimer Holdings Inc. in a report issued on Wednesday. The brokerage presently has a “buy” rating on the network equipment provider’s stock. Oppenheimer Holdings Inc.’s target price indicates a potential upside of 12.99% from the stock’s current price.

A number of other research firms have also recently issued reports on CSCO. Barclays PLC raised their price objective on Cisco Systems from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Drexel Hamilton reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, August 16th. Argus reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Cisco Systems in a research report on Thursday, July 7th. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $36.50 price objective (up from $34.00) on shares of Cisco Systems in a research report on Monday, September 19th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Monday, August 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.73.

Cisco Systems (NASDAQ:CSCO) traded up 1.28% during mid-day trading on Wednesday, hitting $30.09. The stock had a trading volume of 17,678,862 shares. The firm has a market capitalization of $151.26 billion, a price-to-earnings ratio of 14.40 and a beta of 1.42. Cisco Systems has a one year low of $22.46 and a one year high of $31.95. The stock’s 50 day moving average price is $30.59 and its 200 day moving average price is $30.09.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The firm earned $12.35 billion during the quarter, compared to the consensus estimate of $12.34 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Analysts forecast that Cisco Systems will post $2.38 EPS for the current year.

In other news, SVP Prat Bhatt sold 25,706 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $31.02, for a total value of $797,400.12. Following the sale, the senior vice president now owns 133,113 shares in the company, valued at $4,129,165.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the completion of the sale, the senior vice president now owns 286,628 shares in the company, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Sun Life Financial INC acquired a new stake in Cisco Systems during the first quarter worth $63,773,000. Proficio Capital Partners LLC raised its stake in Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares during the last quarter. Orrstown Financial Services Inc. raised its stake in Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock worth $104,000 after buying an additional 286 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Cisco Systems by 112.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,418 shares of the network equipment provider’s stock worth $108,000 after buying an additional 1,808 shares during the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.

About Cisco Systems

Related posts

Leave a Comment