Cisco Systems, Inc. (NASDAQ:CSCO) announced five startups who have been selected to join the latest Silicon Valley cohort of Cisco Entrepreneurs in Residence (Cisco EIR), a start-up incubation program. Cisco EIR supports early-stage companies building disruptive solutions for the Internet of Everything, Big Data/Analytics, Smart Cities, Enterprise Mobility, Security and other strategic areas for Cisco. The incoming startups will collaborate with Cisco executive advisors during the six-month program to identify potential joint go-to-market technologies and solutions that will benefit industry customers and partners.
Since the program’s launch in 2014, Cisco EIR has successfully incubated and collaborated with 17 startups in Silicon Valley and Vienna, Austria. In line with Cisco’s innovation strategy, Cisco believes the next billion-dollar idea can come from anywhere. The Cisco EIR program exemplifies Cisco’s commitment to drive industry transformation by collaborating and innovating with an extended ecosystem of partners, customers and entrepreneurs. Demonstrating momentum and partnership beyond the time spent in the cohort, many Cisco EIR alumni continue to develop groundbreaking innovations and solutions alongside Cisco — more than 20 engagements are underway thus far. (Original Source)
Shares of Cisco closed last Friday at $29.35. CSCO has a 1-year high of $30.31 and a 1-year low of $23.03. The stock’s 50-day moving average is $26.69 and its 200-day moving average is $27.56.
On the ratings front, Cisco has been the subject of a number of recent research reports. In a report issued on October 21, Piper Jaffray analyst Troy Jensen maintained a Buy rating on CSCO, with a price target of $34, which represents a potential upside of 15.8% from where the stock is currently trading. Separately, on the same day, William Blair’s Jason Ader reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Troy Jensen and Jason Ader have a total average return of 6.0% and 5.9% respectively. Jensen has a success rate of 50.5% and is ranked #782 out of 3801 analysts, while Ader has a success rate of 54.9% and is ranked #864.
The street is mostly Bullish on CSCO stock. Out of 17 analysts who cover the stock, 12 suggest a Buy rating , 4 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $32.77, which represents a potential upside of 11.7% from where the stock is currently trading.