Raymond James Financial, Inc. reaffirmed their outperform rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report report published on Monday. Raymond James Financial, Inc. currently has a $36.00 price objective on the network equipment provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer Holdings Inc. set a $34.00 price objective on shares of Cisco Systems and gave the stock a buy rating in a research report on Tuesday, January 24th. Zacks Investment Research cut shares of Cisco Systems from a hold rating to a sell rating in a research report on Tuesday, April 18th. Morgan Stanley raised shares of Cisco Systems from an equal weight rating to an overweight rating and upped their price objective for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Deutsche Bank AG upped their price objective on shares of Cisco Systems from $40.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. Finally, Vetr raised shares of Cisco Systems from a buy rating to a strong-buy rating and set a $37.32 price objective for the company in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $35.19.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.44 on Monday. Cisco Systems has a 12 month low of $27.13 and a 12 month high of $34.60. The company’s 50 day moving average is $33.14 and its 200-day moving average is $32.06. The firm has a market cap of $157.36 billion, a PE ratio of 15.96 and a beta of 1.36.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. Cisco Systems’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities research analysts predict that Cisco Systems will post $2.38 EPS for the current year.

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In related news, SVP Prat Bhatt sold 15,672 shares of Cisco Systems stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total value of $537,079.44. Following the completion of the sale, the senior vice president now owns 77,174 shares of the company’s stock, valued at approximately $2,644,752.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 16,000 shares of Cisco Systems stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $34.04, for a total value of $544,640.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Monaco bought a new position in shares of Cisco Systems during the third quarter valued at approximately $111,000. Seven Eight Capital LP bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $112,000. Financial Management Professionals Inc. increased its position in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $128,000. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

12 Month Chart for NASDAQ:CSCO

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