Cisco Systems (CSCO) is Reiterated by Jefferies to Buy, Raises Price Target to $ 35

Cisco Systems (CSCO) was Reiterated by Jefferies to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $30.75 . Jefferies advised their investors in a research report released on Aug 17, 2016.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .Cisco Systems was Downgraded by Goldman to ” Neutral” on Jun 15, 2016.

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 $30.98 and hit $31.24 on the upside on Monday, eventually ending the session at $31.19, with a gain of 1.04% or 0.32 points. The heightened volatility saw the trading volume jump to 2,19,44,655 shares. Company has a market cap of $156,877 M.

In a different news, on Jun 24, 2016, Pankaj Patel (EVP, Chief Development Officer) sold 9,891 shares at $29.03 per share price. According to the SEC, on Jun 16, 2016, Karen Walker (SVP & Chief Marketing Officer) sold 7,802 shares at $28.50 per share price. On Jun 3, 2016, Rebecca Jacoby (SVP & Chief of Operations) sold 90,000 shares at $28.97 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.

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