Cisco Systems (NASDAQ:CSCO) Stock Price Expected to Rise, Citigroup Analyst Says

Cisco Systems (NASDAQ:CSCO) had its price target increased by Citigroup from $64.00 to $68.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The firm currently has a “buy” rating on the network equipment provider’s stock. Citigroup’s price target would suggest a potential upside of 12.90% from the company’s previous close.

A number of other research analysts have also issued reports on CSCO. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Stock Performance

Shares of CSCO opened at $60.23 on Friday. The company has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The firm has a 50-day moving average of $58.91 and a 200-day moving average of $53.52. Cisco Systems has a one year low of $44.50 and a one year high of $60.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. As a group, equities analysts forecast that Cisco Systems will post 2.97 earnings per share for the current year.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last three months. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Cisco Systems during the fourth quarter worth about $49,000. Institutional investors own 73.33% of the company’s stock.

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.