Cowen Cuts Cisco Systems (NASDAQ:CSCO) Price Target to $61.00

Cisco Systems (NASDAQ:CSCO) had its price target cut by equities research analysts at Cowen from $65.00 to $61.00 in a report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the network equipment provider’s stock. Cowen’s price target suggests a potential upside of 31.78% from the company’s previous close.

A number of other research analysts have also recently commented on CSCO. Morgan Stanley reduced their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday. Piper Jaffray Companies lifted their price target on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Bank of America reissued a “buy” rating and issued a $62.00 target price on shares of Cisco Systems in a research report on Wednesday, July 10th. Nomura boosted their price target on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barclays began coverage on Cisco Systems in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.24.

CSCO traded down $4.32 during trading on Thursday, reaching $46.29. 53,962,761 shares of the company’s stock were exchanged, compared to its average volume of 16,925,128. Cisco Systems has a one year low of $40.25 and a one year high of $58.26. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $220.63 billion, a PE ratio of 19.78, a PEG ratio of 2.36 and a beta of 1.18. The stock has a fifty day moving average price of $55.59.



Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The firm had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems will post 2.8 earnings per share for the current year.

In other Cisco Systems news, Director Steven M. West sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total value of $1,124,200.00. Following the transaction, the director now directly owns 5,263 shares of the company’s stock, valued at $295,833.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Chandler sold 3,750 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $55.79, for a total value of $209,212.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,129 shares of company stock worth $5,159,754. 0.03% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in CSCO. Evolution Wealth Advisors LLC acquired a new position in Cisco Systems in the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new position in shares of Cisco Systems in the second quarter valued at $38,000. Personal Wealth Partners bought a new position in shares of Cisco Systems in the second quarter valued at $44,000. Ashburton Jersey Ltd bought a new position in shares of Cisco Systems in the second quarter valued at $49,000. Finally, Cohen & Steers Inc. purchased a new position in Cisco Systems during the 4th quarter worth approximately $51,000. Institutional investors own 74.28% 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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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