In yesterday’s Wall Street session, Cisco Systems, Inc. (NASDAQ:CSCO) shares traded at $47.78, down -0.17% from the previous session.
CSCO stock price is now -2.33% away from the 50-day moving average and -6.98% away from the 200-day moving average. The market capitalization of the company currently stands at $193.47B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
On April 15, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $55 to quote $60, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, Stahlkopf Deborah L, EVP and Chief Legal Officer sold 237 shares of the company’s stock on Mar 14 ’24. The stock was sold for $11,914 at an average price of $50.27. Upon completion of the transaction, the EVP and Chief Legal Officer now directly owns 191,322 shares in the company, valued at $9.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, EVP & Chief Cust & Prtnr Offcr Sharritts Jeffery S. sold 132 shares of the business’s stock. A total of $6,636 was realized by selling the stock at an average price of $50.27. This leaves the insider owning 245,657 shares of the company worth $11.74 million. A total of 0.23% of the company’s stock is owned by insiders.
During the past 12 months, Cisco Systems, Inc. has had a low of $45.56 and a high of $58.19. As of last week, the company has a debt-to-equity ratio of 0.27, a current ratio of 1.27, and a quick ratio of 1.16.
According to the Communication Equipment Company, earnings per share came in at 1, beating analysts’ expectations of 0.97 by 0.03. This compares to $0.67 EPS in the same period last year. The net profit margin was 23.49% and return on equity was 30.65% for CSCO. The company reported revenue of $12.79 billion for the quarter, compared to $13.59 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.89 percent. For the current quarter, analysts expect CSCO to generate $11.65B in revenue.
