StockNews.com Upgrades Cisco Systems (NASDAQ:CSCO) to Buy

Cisco Systems (NASDAQ:CSCO - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Hsbc Global Res raised Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $53.00 to $55.00 and gave the company a "hold" rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Piper Sandler reissued a "neutral" rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Finally, HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $56.74.

Cisco Systems Stock Down 0.8 %

Cisco Systems stock traded down $0.46 during trading on Monday, hitting $55.28. 12,911,793 shares of the company were exchanged, compared to its average volume of 19,061,365. The company has a market capitalization of $222.71 billion, a P/E ratio of 18.61, a PEG ratio of 4.22 and a beta of 0.83. The business's 50 day moving average is $52.23 and its 200 day moving average is $48.90. Cisco Systems has a 52 week low of $44.50 and a 52 week high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm earned $1.01 EPS. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts predict that Cisco Systems will post 2.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company's stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CSCO. Waypoint Capital Advisors LLC boosted its holdings in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after buying an additional 182 shares during the last quarter. Andina Capital Management LLC grew its position in shares of Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after purchasing an additional 182 shares in the last quarter. Meridian Financial Partners LLC increased its holdings in shares of Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after purchasing an additional 185 shares during the last quarter. Gleason Group Inc. boosted its stake in Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider's stock worth $1,207,000 after buying an additional 193 shares during the last quarter. Finally, Cassia Capital Partners LLC grew its holdings in Cisco Systems by 1.5% in the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider's stock valued at $696,000 after buying an additional 195 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

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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