Cisco Systems' (CSCO) "In-Line" Rating Reiterated at Evercore ISI

Key Points

• Evercore ISI has reaffirmed an "in-line" rating for Cisco Systems (CSCO) with a target price of $72.00, indicating a potential upside of 4.82% from its previous close.
• Overall, Cisco Systems has received a consensus rating of "Moderate Buy" from analysts, with 16 buy ratings and an average target price of $70.35.
• The company reported $0.96 EPS in its latest quarterly earnings, surpassing analyst expectations of $0.92, along with a revenue increase of 11.4% year-over-year.

Cisco Systems (NASDAQ:CSCO - Get Free Report)'s stock had its "in-line" rating restated by research analysts at Evercore ISI in a report released on Monday, Marketbeat Ratings reports. They currently have a $72.00 target price on the network equipment provider's stock. Evercore ISI's target price would indicate a potential upside of 5.36% from the company's previous close.

CSCO has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. CICC Research started coverage on Cisco Systems in a research report on Monday, July 14th. They set an "outperform" rating and a $78.00 target price for the company. New Street Research restated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $70.35.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.06 during mid-day trading on Monday, hitting $68.34. The company had a trading volume of 9,215,680 shares, compared to its average volume of 21,151,439. The company has a market capitalization of $270.61 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 4.07 and a beta of 0.90. Cisco Systems has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $66.70 and its 200-day moving average price is $62.60.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts forecast that Cisco Systems will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSCO. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Physician Wealth Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth about $181,000. Alliancebernstein L.P. raised its stake in shares of Cisco Systems by 50.3% during the fourth quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider's stock valued at $392,375,000 after acquiring an additional 2,219,311 shares in the last quarter. Finally, Summit Financial LLC raised its stake in shares of Cisco Systems by 55.0% during the fourth quarter. Summit Financial LLC now owns 82,275 shares of the network equipment provider's stock valued at $4,871,000 after acquiring an additional 29,187 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

About Cisco Systems

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.