Jefferies Keeps Their Buy Rating on Cisco Systems

By Austin Angelo

Jefferies analyst George Notter reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO) today and set a price target of $48. The company’s shares closed yesterday at $42.09, close to its 52-week high of $42.98.

According to TipRanks.com, Notter is a 4-star analyst with an average return of 10.4% and a 63.2% success rate. Notter covers the Consumer Goods sector, focusing on stocks such as Comtech Telecommunications, Hewlett Packard Enterprise, and Ribbon Communications Inc.

Currently, the analyst consensus on Cisco Systems is Strong Buy and the average price target is $45.68, representing an 8.5% upside.

In a report issued on February 6, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $48 price target.

Based on Cisco Systems’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $12.14 billion and quarterly net profit of $2.39 billion. In comparison, last year the company earned revenue of $11.58 billion and had a net profit of $2.35 billion.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.