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Erste Group Sticks to Its Hold Rating for Cisco Systems (CSCO)

Tipranks - Tipranks - Fri Apr 3, 3:14PM CDT

In a report released yesterday, Hans Engel from Erste Group maintained a Hold rating on Cisco Systems. The company’s shares closed today at $77.93.

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Engel covers the Technology sector, focusing on stocks such as Cisco Systems, International Business Machines, and Broadcom. According to TipRanks, Engel has an average return of 8.5% and a 53.70% success rate on recommended stocks.

Cisco Systems has an analyst consensus of Moderate Buy, with a price target consensus of $92.00, which is a 18.05% upside from current levels. In a report released on March 30, Piper Sandler also maintained a Hold rating on the stock with a $86.00 price target.

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Based on Cisco Systems’ latest earnings release for the quarter ending January 24, the company reported a quarterly revenue of $15.35 billion and a net profit of $3.18 billion. In comparison, last year the company earned a revenue of $13.99 billion and had a net profit of $2.43 billion

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