Cisco Systems (CSCO) was Reiterated by Deutsche Bank to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 37 from a previous price target of $35 . Deutsche Bank advised their investors in a research report released on Sep 14, 2016.
Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $30.75 .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 .
On the company’s financial health, Cisco Systems reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.60. The company had revenue of $12638.00 million for the quarter, compared to analysts expectations of $12571.21 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.
Cisco Systems opened for trading at $30.61 and hit $31.495 on the upside on Monday, eventually ending the session at $31.44, with a gain of 1.91% or 0.59 points. The heightened volatility saw the trading volume jump to 22,612,518 shares. Company has a market cap of $157,651 M.
In a different news, on Sep 13, 2016, Charles Robbins (Chief Executive Officer) sold 148,800 shares at $31.01 per share price. According to the SEC, on Sep 13, 2016, Mark D Chandler (SVP, LglSrvs & General Counsel) sold 50,049 shares at $31.14 per share price. On Sep 13, 2016, Prat Bhatt (SVP, Corp Controller & CAO) sold 25,706 shares at $31.04 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.