Cisco Systems (NASDAQ:CSCO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target on Cisco Systems from $95 to $96, but that still implies a slight downside from the current share price.
• Other analysts remain generally positive on CSCO, with recent target increases from Evercore and UBS and an overall consensus rating of Moderate Buy with an average price target of $90.29.
• Cisco reported stronger-than-expected quarterly results, beating estimates on both EPS and revenue, while shares recently traded near their 52-week high at $96.70.

Cisco Systems (NASDAQ:CSCO - Get Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a research report issued on Monday,MarketScreener reports. JPMorgan Chase & Co.'s price target indicates a potential downside of 0.72% from the stock's current price.

CSCO has been the subject of several other reports. Evercore boosted their price target on Cisco Systems from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. UBS Group boosted their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Argus raised shares of Cisco Systems to a "strong-buy" rating in a research report on Friday, February 13th. Wall Street Zen downgraded shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Zacks Research lowered Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.29.

Cisco Systems Trading Up 0.1%

Shares of Cisco Systems stock opened at $96.70 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The business has a fifty day simple moving average of $82.32 and a two-hundred day simple moving average of $78.56. Cisco Systems has a 1 year low of $60.85 and a 1 year high of $97.02. The company has a market capitalization of $381.96 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 3.62 and a beta of 0.92.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to analysts' expectations of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. Research analysts forecast that Cisco Systems will post 3.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the sale, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the transaction, the executive vice president owned 187,097 shares of the company's stock, valued at $14,874,211.50. This trade represents a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSCO. Intesa Sanpaolo Wealth Management purchased a new position in shares of Cisco Systems during the 4th quarter valued at $25,000. MidAtlantic Capital Management Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at about $25,000. Networth Advisors LLC lifted its holdings in Cisco Systems by 276.4% during the first quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider's stock valued at $26,000 after purchasing an additional 246 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Cisco Systems by 137.0% in the first quarter. Manning & Napier Advisors LLC now owns 346 shares of the network equipment provider's stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Cisco Systems during the 1st quarter valued at approximately $27,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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