Cisco Systems Receives a Buy from Barclays

By Ryan Adsit

In a report released today, Mark Moskowitz from Barclays reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO), with a price target of $34. The company’s shares opened today at $29.91.

Moskowitz said:

“We expect shares of Overweight-rated Cisco to be under pressure in the near term. Following the stock’s recent rally, mixed Oct-Q results and light Jan-Q outlook could disappoint investors. The silver lining is that we think the main drivers are not due to the company’s execution or being out of position. Service provider/carrier and campus spending patterns in routing and switching respectively are contributing to incremental headwinds.”

According to TipRanks.com, Moskowitz is a 5-star analyst with an average return of 14.1% and a 62.5% success rate. Moskowitz covers the Technology sector, focusing on stocks such as National Instruments Corp., Hewlett Packard Enterprise, and Lexmark International.

Currently, the analyst consensus on Cisco Systems is Moderate Buy and the average price target is $33.58, representing a 12.3% upside.

In a report issued on November 2, Robert W. Baird also reiterated a Buy rating on the stock.

Cisco Systems’ market cap is currently $158.8B and has a P/E ratio of 14.89. The company has a book value ratio of 2.4969.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, John L. Hennessy, a Director at CSCO sold 15,000 shares for a total of $468,750.