Needham analyst Alex Henderson maintained a Hold rating on Cisco Systems (CSCO) today. The company’s shares closed last Monday at $48.46.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.4% and a 53.7% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Lumentum Holdings, Ceragon Networks, and Extreme Networks.
Currently, the analyst consensus on Cisco Systems is a Moderate Buy with an average price target of $54.06, which is a 12.1% upside from current levels. In a report issued on November 11, Piper Jaffray also downgraded the stock to Hold with a $51.00 price target.
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Based on Cisco Systems’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $13.43 billion and net profit of $2.21 billion. In comparison, last year the company earned revenue of $13.07 billion and had a net profit of $3.55 billion.
Based on the recent corporate insider activity of 92 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.
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