In a report released yesterday, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Cisco Systems (CSCO). The company’s shares closed last Wednesday at $35.80.
According to TipRanks.com, Feinseth is a 5-star analyst with an average return of 17.2% and a 67.5% success rate. Feinseth covers the Technology sector, focusing on stocks such as Alphabet Class A, Microsoft, and Facebook.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cisco Systems with a $47.57 average price target, which is a 31.0% upside from current levels. In a report issued on October 13, Morgan Stanley also reiterated a Buy rating on the stock.
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Based on Cisco Systems’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $12.15 billion and net profit of $2.64 billion. In comparison, last year the company earned revenue of $13.43 billion and had a net profit of $2.21 billion.
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Cisco Systems, Inc. engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security. 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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