PiperJaffray Maintains Cisco Systems to Overweight with Price Target $34.00

Brokerage firm PiperJaffray Maintains its rating on Cisco Systems(NASDAQ:CSCO). In a research note issued to the investors, the brokerage major Raises the price-target to $34.00 per share. The shares have been rated Overweight. The rating by PiperJaffray was issued on Aug 18, 2016.

In a different note, On Aug 18, 2016, Goldman Sachs said it Maintains its rating on Cisco Systems. The shares have been rated ‘Neutral’ by the firm. On Aug 18, 2016, Drexel Hamilton said it Maintains its rating on Cisco Systems. The shares have been rated ‘Buy’ by the firm. On Aug 18, 2016, Citigroup said it Maintains its rating on Cisco Systems. The shares have been rated ‘Buy’ by the firm. On Aug 18, 2016, UBS said it Maintains its rating on Cisco Systems. The shares have been rated ‘Buy’ by the firm. On Aug 18, 2016, Cowen & Company said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 18, 2016, Credit Suisse said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Underperform’ by the firm.

Cisco Systems (CSCO) made into the market gainers list on Mondays trading session with the shares advancing 0.73% or 0.23 points. Due to strong positive momentum, the stock ended at $31.58, which is also near the day’s high of $31.7. The stock began the session at $31.43 and the volume stood at 2,11,01,729 shares. The 52-week high of the shares is $31.66 and the 52 week low is $22.46. The company has a current market capitalization of $158,838 M and it has 5,02,97,12,000 shares in outstanding.

Cisco Systems(CSCO) last announced its earnings results on Aug 17, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $12.64B. Analysts had an estimated revenue of $12.57B. Earnings per share were $0.63. Analysts had estimated an EPS of $0.60.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2016, Pankaj Patel (EVP, Chief Development Officer) sold 9,891 shares at $29.03 per share price.Also, On Jun 16, 2016, Karen Walker (SVP & Chief Marketing Officer) sold 7,802 shares at $28.50 per share price.On Jun 3, 2016, Rebecca Jacoby (SVP & Chief of Operations) sold 90,000 shares at $28.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Cisco System Inc. (Cisco) designs and sells lines of products provides services and delivers integrated solutions to develop and connect networks around the world building the Internet. The Company is engaged in designing manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provides services associated with these products and their use. The Company operates its business through three segments: The Americas; Europe Middle East and Africa (EMEA) and Asia Pacific Japan and China (APJC). It groups its products and technologies into the various categories such as Switching Next-Generation Network (NGN) Routing Collaboration Service Provider Video Data Center Wireless Security and Other Products. In addition to its product offerings it provides a range of service offerings including technical support services and advanced services.

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