Oppenheimer Cuts Price Target on Cisco Systems (CSCO)
Research analysts at Oppenheimer (NYSE: OPY) cut their target price on shares of Cisco Systems (NASDAQ: CSCO) from $23.00 to $22.00 in a report released on Thursday. The firm currently has an “outperform” rating on the stock.
Shares of Cisco Systems opened at 16.81 on Thursday. Cisco Systems has a one year low of $13.30 and a one year high of $21.30. The company has a market cap of $90.538 billion and a P/E ratio of 13.06.
Cisco Systems last issued its quarterly earnings data on Wednesday, May 9th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.01. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $0.48 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital (NASDAQ: FBCM) cut their price target on shares of Cisco Systems from $22.50 to $20.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Mizuho cut their price target on shares of Cisco Systems from $24.00 to $20.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Cisco Systems in a research note to investors on Monday.
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.