Cisco Systems (NASDAQ: CSCO) was upgraded by investment analysts at Barclays Capital (NYSE: BCS) from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday. The firm currently has a $21.00 target price on the stock.
Cisco Systems opened at 16.69 on Wednesday. Cisco Systems has a 52-week low of $13.30 and a 52-week high of $21.30. The company has a market cap of $89.926 billion and a price-to-earnings ratio of 12.29.
Cisco Systems last posted its quarterly earnings results 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. Analysts expect that Cisco Systems will post $0.46 EPS next quarter.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note to investors on Friday, May 11st. They now have a $18.00 price target on the stock. Separately, analysts at JPMorgan Chase (NYSE: JPM) reiterated an “overweight” rating on shares of Cisco Systems in a research note to investors on Thursday, May 10th. Finally, analysts at Piper Jaffray (NYSE: PJC) reiterated a “neutral” rating on shares of Cisco Systems in a research note to investors on Thursday, May 10th.
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.