Fintel reports that on August 15, 2024, New Street Research upgraded their outlook for Cisco Systems (NasdaqGS:CSCO) from Neutral to Buy.
Analyst Price Forecast Suggests 22.76% Upside
As of August 6, 2024, the average one-year price target for Cisco Systems is $55.78/share. The forecasts range from a low of $46.46 to a high of $79.80. The average price target represents an increase of 22.76% from its latest reported closing price of $45.44 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cisco Systems is 57,836MM, an increase of 7.50%. The projected annual non-GAAP EPS is 3.91.
What is the Fund Sentiment?
There are 4,489 funds or institutions reporting positions in Cisco Systems. This is an decrease of 67 owner(s) or 1.47% in the last quarter. Average portfolio weight of all funds dedicated to CSCO is 0.59%, an increase of 6.58%. Total shares owned by institutions increased in the last three months by 1.70% to 3,282,923K shares. 
The put/call ratio of CSCO is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 114,484K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 114,721K shares , representing a decrease of 0.21%. The firm decreased its portfolio allocation in CSCO by 10.12% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 102,404K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 98,948K shares , representing an increase of 3.37%. The firm decreased its portfolio allocation in CSCO by 9.85% over the last quarter.
Geode Capital Management holds 94,368K shares representing 2.34% ownership of the company. In its prior filing, the firm reported owning 91,886K shares , representing an increase of 2.63%. The firm decreased its portfolio allocation in CSCO by 51.56% over the last quarter.
Charles Schwab Investment Management holds 81,043K shares representing 2.01% ownership of the company. In its prior filing, the firm reported owning 77,850K shares , representing an increase of 3.94%. The firm decreased its portfolio allocation in CSCO by 31.05% over the last quarter.
Invesco Qqq Trust, Series 1 holds 75,900K shares representing 1.88% ownership of the company. In its prior filing, the firm reported owning 74,320K shares , representing an increase of 2.08%. The firm decreased its portfolio allocation in CSCO by 10.47% over the last quarter.
Cisco Systems Background Information
(This description is provided by the company.)
Cisco is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
