Stifel Nicolaus Cuts Price Target on Cisco Systems (CSCO)

By admin | 6 years ago

Investment analysts at Stifel Nicolaus dropped their target price on shares of Cisco Systems (NASDAQ: CSCO) from $24.00 to $23.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock.

Cisco Systems opened at 16.81 on Thursday. Cisco Systems has a 1-year low of $13.30 and a 1-year high of $21.30. The company has a market cap of $90.538 billion and a price-to-earnings ratio of 13.06.

Cisco Systems last released its earnings data on Wednesday, May 9th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the 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 Oppenheimer (NYSE: OPY) cut their price target on shares of Cisco Systems from $23.00 to $22.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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.

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.

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