Cisco Systems (NASDAQ:CSCO) Given New $96.00 Price Target at JPMorgan Chase & Co.

Cisco Systems (NASDAQ:CSCO) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a research report issued on Monday,MarketScreener reports. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 0.72% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Erste Group Bank lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. CICC Research boosted their price objective on Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Truist Financial assumed coverage on Cisco Systems in a research report on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, Argus raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $90.29.

Cisco Systems Stock Up 0.1%

Shares of NASDAQ CSCO opened at $96.70 on Monday. The business has a 50-day simple moving average of $82.32 and a two-hundred day simple moving average of $78.56. Cisco Systems has a 52 week low of $60.85 and a 52 week high of $97.02. The company has a market cap of $381.96 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.62 and a beta of 0.92. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. Cisco Systems’s revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that Cisco Systems will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 551 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $77.54, for a total value of $42,724.54. Following the completion of the sale, the senior vice president owned 27,957 shares in the company, valued at $2,167,785.78. This represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,431 shares of company stock worth $3,574,820 in the last 90 days. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CSCO. Marquette Asset Management LLC purchased a new stake in Cisco Systems during the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $25,000. Networth Advisors LLC lifted its stake in shares of Cisco Systems by 276.4% during the 1st quarter. Networth Advisors LLC now owns 335 shares of the network equipment provider’s stock worth $26,000 after acquiring an additional 246 shares during the last quarter. Finally, Financial Life Planners purchased a new position in Cisco Systems during the 1st quarter valued at $27,000. 73.33% of the stock is currently owned by institutional investors.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.