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

Key Points

• UBS Group raised its price target for Cisco Systems from $70.00 to $74.00, indicating a potential upside of 8.04% from the stock's previous close while maintaining a "neutral" rating.
• Other analysts have also increased their ratings, with Wells Fargo upgrading its target to $75.00 and KeyCorp setting a target of $77.00, reflecting a positive sentiment in the market.
• Cisco reported a quarterly earnings per share of $0.96, surpassing estimates, and saw an 11.4% increase in revenue compared to the previous year, showcasing strong financial performance.

Cisco Systems (NASDAQ:CSCO - Get Free Report) had its price target upped by equities researchers at UBS Group from $70.00 to $74.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the network equipment provider's stock. UBS Group's target price would indicate a potential upside of 8.04% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. KeyCorp began coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Evercore ISI reissued an "in-line" rating and set a $72.00 price target on shares of Cisco Systems in a research report on Monday, July 28th. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $70.55.

Cisco Systems Trading Up 2.1%

Shares of CSCO stock opened at $68.49 on Tuesday. The company's 50-day moving average price is $66.98 and its 200-day moving average price is $62.81. 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 has a market cap of $271.22 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 3.76 and a beta of 0.91. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $69.78.

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 firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, equities analysts predict that Cisco Systems will post 3.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. Corporate insiders own 0.01% of the company's stock.

Institutional Trading of Cisco Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSCO. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Financial Connections Group Inc. grew its holdings in shares of Cisco Systems by 89.4% during the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider's stock worth $28,000 after purchasing an additional 193 shares during the period. JDM Financial Group LLC grew its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Pandora Wealth Inc. purchased a new stake in shares of Cisco Systems during the 1st quarter worth about $31,000. Hedge funds and other 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.

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