Cisco Systems (CSCO) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 31 from a previous price target of $29 . Barclays advised their investors in a research report released on May 19, 2016.
Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by RBC Capital Mkts on May 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $24 .Company shares were Upgraded by JP Morgan on Apr 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 27.50 from a previous price target of $17 .
On the company’s financial health, Cisco Systems reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $12000.00 million for the quarter, compared to analysts expectations of $11951.58 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Cisco Systems opened for trading at $26.5705 and hit $27.12 on the upside on Monday, eventually ending the session at $26.97, with a gain of 1.66% or 0.44 points. The heightened volatility saw the trading volume jump to 2,08,85,902 shares. Company has a market cap of $135,716 M.
In a different news, on Mar 24, 2016, Chris Dedicoat (EVP, Worldwide Sales) sold 31,800 shares at $27.93 per share price. According to the SEC, on Mar 24, 2016, Prat Bhatt (SVP, Corp Controller & CAO) sold 50,000 shares at $28.24 per share price. On Mar 24, 2016, Pankaj Patel (EVP, Chief Development Officer) sold 35,814 shares at $28.08 per share price, according to the Form-4 filing with the securities and exchange commission.
Cisco System Inc. (Cisco) designs and sells lines of products provides services and delivers integrated solutions to develop and connect networks around the world building the Internet. The Company is engaged in designing manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provides services associated with these products and their use. The Company operates its business through three segments: The Americas; Europe Middle East and Africa (EMEA) and Asia Pacific Japan and China (APJC). It groups its products and technologies into the various categories such as Switching Next-Generation Network (NGN) Routing Collaboration Service Provider Video Data Center Wireless Security and Other Products. In addition to its product offerings it provides a range of service offerings including technical support services and advanced services.