Cisco Systems (CSCO) Target Cut at Auriga, Retains Hold Rating

Cisco Systems (CSCO) received a “hold” reiteration today from securities research analysts at investment firm Auriga.  The firm also cut their performance outlook for Cisco and adjusted their price target from $19 to $16 dollars.  Auriga noted that their decreased performance outlook for Cisco is due to the fact they anticipate the company to continue being under margin and and growth pressure.  Notable is that Auriga said they believe that switching technology will accelerate in being a commodity which will ultimately put a damper on Cisco’s bottom-line.

There is little doubt that CSCO has had a rough time on the market for over a year now, it is certainly not a secret.  The past three earnings reports that have been released by the company have resulted in significant bearish gaps each consecutive time.  CSCO’s most recent 52-week low is $14.78 which was set on June 15th, 2011, and since then, shares have been consolidating.

Cisco Systems is slated to release their next earnings report onAugust 10th, 2011  and is estimated to post EPS of 38 cents.  Their last earnings report was released on May 11th, 2011, and announced EPS of 42 cents with revenue totaling $10.866 billion which was up 4.8% year to year.  CSCO is currently trading below its 50 & 200-day moving averages and 2011 is an up year for the company.

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.  The company has market capitalization of $82,777,784,250 and 5,500,185,000 shares outstanding.  CSCO has a 52-week high of $26 with the low being the aforementioned $14.78 dollars.

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