Cisco Stock – Cisco Systems (CSCO) Gets a Buy Rating from Raymond James

In a report released yesterday, Simon Leopold from Raymond James maintained a Buy rating on Cisco Systems (CSCO). The company’s shares closed last Thursday at $47.25.

According to TipRanks.com, Leopold is a 4-star analyst with an average return of 9.6% and a 60.9% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and Applied Optoelectronics.

Currently, the analyst consensus on Cisco Systems is a Moderate Buy with an average price target of $49.89, a 5.6% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $50.00 price target.

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Based on Cisco Systems’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $11.93 billion and net profit of $2.17 billion. In comparison, last year the company earned revenue of $13.16 billion and had a net profit of $2.93 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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