Needham analyst Alex Henderson assigned a Hold rating to Cisco Systems (CSCO) today. The company’s shares closed last Friday at $52.90, close to its 52-week high of $54.14.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 23.9% and a 62.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cisco Systems with a $57.10 average price target, representing a 7.9% upside. In a report issued on May 10, Robert W. Baird also maintained a Hold rating on the stock with a $53.00 price target.
See today’s analyst top recommended stocks >>
Based on Cisco Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $11.96 billion and net profit of $2.55 billion. In comparison, last year the company earned revenue of $12.01 billion and had a net profit of $2.88 billion.
Based on the recent corporate insider activity of 104 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.
Read More on CSCO:
