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Cisco Systems Inc. (NASDAQ: CSCO) Stock’s Potential for Success in the Coming Months

In the latest trading session, 1.08 million Cisco Systems Inc. (NASDAQ:CSCO) shares changed hands as the company’s beta touched 0.96. With the company’s most recent per share price at $55.76 changed hands at -$0.35 or -0.62% at last look, the market valuation stands at $227.43B. CSCO’s current price is a discount, trading about -4.36% off its 52-week high of $58.19. The share price had its 52-week low at $38.60, which suggests the last value was 30.77% up since then. When we look at Cisco Systems Inc.’s average trading volume, we note the 10-day average is 16.84 million shares, with the 3-month average coming to 17.98 million.

Analysts gave the Cisco Systems Inc. (CSCO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 27 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 16 recommended CSCO as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. Cisco Systems Inc.’s EPS for the current quarter is expected to be $1.03.

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Cisco Systems Inc. (NASDAQ:CSCO) trade information

Instantly CSCO was in red as seen in intraday trades today. With action -1.12%, the performance over the past five days has been red. The drop to weekly highs of 56.53 on Monday, 09/18/23 subtracted -0.62% to the stock’s daily price. The company’s shares are showing year-to-date upside of 17.04%, with the 5-day performance at -1.12% in the red. However, in the 30-day time frame, Cisco Systems Inc. (NASDAQ:CSCO) is 1.31% up. Looking at the short shares, we see there were 60.49 million shares sold at short interest cover period of 3.28 days.

The consensus price target for the stock as assigned by Wall Street analysts is $58.58, meaning bulls need an upside of 4.81% from its recent market value. According to analyst projections, CSCO’s forecast low is $45.00 with $68.00 as the target high. To hit the forecast high, the stock’s price needs a -21.95% plunge from its current level, while the stock would need to tank 19.3% for it to hit the projected low.

Cisco Systems Inc. (CSCO) estimates and forecasts

Data shows that the Cisco Systems Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.46% over the past 6 months, a 4.11% in annual growth rate that is considerably lower than the industry average of 17.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cisco Systems Inc. will rise 19.80%, while the growth in revenue is estimated to hit 12.50% for the next quarter. Year-over-year growth is forecast to reach 1.40% up from the last financial year.

Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $14.62 billion. 17 analysts are of the opinion that Cisco Systems Inc.’s revenue for the quarter ending Jan 2024 will be $14.21 billion. The company’s revenue for the corresponding quarters a year ago was $13.31 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.40%. The 2023 estimates are for Cisco Systems Inc. earnings to increase by 9.00%, but the outlook for the next 5-year period is at 6.41% per year.

CSCO Dividends

Cisco Systems Inc. is expected to release its next quarterly earnings report between November 14 and November 20. The 2.80% annual yield figure for the share gives it an annual dividend of 1.56. It is important to note, however, that the 2.80% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Cisco Systems Inc. (NASDAQ:CSCO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.08% of Cisco Systems Inc. shares while 77.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.51%. There are 77.45% institutions holding the Cisco Systems Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.47% of the shares, roughly 383.93 million CSCO shares worth $21.41 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.57% or 347.57 million shares worth $19.39 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 114.35 million shares estimated at $6.38 billion under it, the former controlled 2.82% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.40% of the shares, roughly 97.52 million shares worth around $5.44 billion.

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