Cisco Systems (CSCO) : 24 analysts are covering Cisco Systems (CSCO) and their average rating on the stock is 1.83, which is read as a Buy. 14 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Cisco Systems (CSCO) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Cisco Systems (CSCO) has been rated by 23 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $39 and the lowest price target forecast is $22. The average forecast of all the analysts is $30.55 and the expected standard deviation is $3.56.
For the current week, the company shares have a recommendation consensus of Buy. Cisco Systems (NASDAQ:CSCO): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.95 and $30.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.02. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.95, notching a gain of 0.32% for the day. The total traded volume was 24,020,927 . The stock had closed at $30.85 on the previous day.
In a related news,The director of Cisco Systems, Inc., West Steven M sold 15,000 shares at $30.2 on July 20, 2016. The Insider selling transaction had a total value worth of $453,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.