Cisco Systems (NASDAQ:CSCO) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems (NASDAQ:CSCOGet Free Report) in a report released on Monday, StockNewsAPI reports. The firm set a “neutral” rating and a $53.00 price target on the network equipment provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.69% from the company’s current price.

Several other research analysts also recently issued reports on CSCO. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Citigroup began coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Finally, Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Check Out Our Latest Stock Report on CSCO

Cisco Systems Price Performance

CSCO stock opened at $48.32 on Monday. The stock has a market cap of $195.66 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a 50 day simple moving average of $49.07 and a 200 day simple moving average of $50.20. Cisco Systems has a 1 year low of $45.56 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the prior year, the company earned $0.76 EPS. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. Research analysts anticipate that Cisco Systems will post 3.14 EPS for the current fiscal year.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems during the 3rd quarter worth $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems during the fourth quarter worth about $32,000. Delos Wealth Advisors LLC grew its position in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at about $33,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $34,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

(Get Free Report)

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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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