New Buy Rating for Cisco Systems (CSCO), the Technology Giant
Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Cisco Systems (CSCO – Research Report) today and set a price target of $73.00. The company’s shares closed today at $50.12.
Feinseth covers the Technology sector, focusing on stocks such as Meta Platforms, Apple, and Cisco Systems. According to TipRanks, Feinseth has an average return of 11.4% and a 60.80% success rate on recommended stocks.
Cisco Systems has an analyst consensus of Moderate Buy, with a price target consensus of $57.78.
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Based on Cisco Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $13.59 billion and a net profit of $2.77 billion. In comparison, last year the company earned a revenue of $12.72 billion and had a net profit of $2.97 billion
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSCO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cisco offers a broad range of technologies across networking, security, collaboration, applications and the cloud. It manufactures and sells Internet Protocol (IP)-based networking and other products related to the communications and IT industry and also provides associated services. The company was founded by Sandra Lerner and Leonard Bosack on December 10, 1984 and is headquartered in San Jose, CA.
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