Cisco Systems, a network equipment provider listed on NASDAQ under the ticker symbol CSCO, saw its target price raised by Barclays from $48.00 to $50.00. Other research firms, such as Bank of America, Morgan Stanley, StockNews.com, and Deutsche Bank Aktiengesellschaft, also provided positive ratings and price target increases for the company. Overall, the consensus rating for Cisco Systems is “Hold” with an average price target of $56.47.
In terms of financial performance, Cisco Systems reported earnings that beat consensus estimates for the quarter ending on May 15th. The company’s revenue was slightly higher than analyst predictions, but showed a 12.8% decrease year over year. Analysts are expecting Cisco Systems to post an EPS of 3.13 for the current year.
Insider trading activity at Cisco Systems included transactions by senior vice president Maria Victoria Wong and CFO Richard Scott Herren, who both sold shares of the company. Institutional investors have also been active, with some increasing their holdings in the company.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and related products globally. The company’s offerings include switching, routing, wireless, and computing products for various industries.
Overall, Cisco Systems’ stock price opened at $48.17 on Friday and currently has a market capitalization of $195.05 billion. The company’s financial metrics include a P/E ratio of 16.22, a P/E/G ratio of 2.79, and a beta of 0.87. Despite a recent decline in share price, analysts remain optimistic about the company’s future performance.
In conclusion, Cisco Systems has received positive ratings and price target increases from various research firms. The company’s financial performance has been strong, with revenue exceeding expectations. Insider trading activity and institutional investor interest indicate confidence in the company’s prospects. As Cisco Systems continues to innovate and expand its product offerings, it remains a key player in the information and communications technology industry.
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