Cisco Systems, a network equipment provider listed on the NASDAQ stock exchange under the symbol CSCO, received a “neutral” rating from Piper Sandler in a recent research report. The analysts at Piper Sandler set a price target of $52.00 for the company, indicating a potential upside of 7.95% from the current price. Other analysts have also released reports on Cisco Systems, with varying ratings and price targets.
The company’s stock performance has been fluctuating, with actions opening at $48.17. Cisco Systems has a market capitalization of $195.05 billion and a price-to-earnings ratio of 16.22. The company’s recent quarterly earnings showed positive results, with earnings per share of $0.88, surpassing analysts’ estimates. However, the company’s quarterly revenue decreased by 12.8% compared to the same period last year.
In terms of internal activity, executives at Cisco Systems have been selling shares, with transactions disclosed in filings with the Securities and Exchange Commission (SEC). Institutional investors have also been active in the company, with several hedge funds increasing their holdings in Cisco Systems.
The company’s profile highlights its focus on designing, manufacturing, and selling Internet protocol-based networks and related products in various regions worldwide. Cisco Systems offers a range of products, including switching, routing, wireless, and computing solutions.
Overall, Cisco Systems continues to attract attention from analysts, investors, and insiders, reflecting the ongoing interest in the company’s performance and potential growth prospects. The consensus rating for Cisco Systems is “Hold,” with a consensus price target of $56.47.
In conclusion, Cisco Systems remains a significant player in the information and communications technology industry, with its products and services catering to a wide range of customers globally. Despite the challenges faced in the market, the company’s strong financial performance and product portfolio contribute to its positioning in the industry. Investors and analysts will continue to monitor Cisco Systems’ developments and performance in the coming months.
Article Source
https://www.defenseworld.net/2024/05/18/cisco-systems-nasdaqcsco-given-neutral-rating-at-piper-sandler.html