In yesterday’s Wall Street session, Cisco Systems, Inc. (NASDAQ:CSCO) shares traded at $51.03, up 2.47% from the previous session.
CSCO stock price is now 6.37% away from the 50-day moving average and 5.13% away from the 200-day moving average. The market capitalization of the company currently stands at $203.65B.
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
With the price target enhanced from $46 to $58, HSBC Securities Upgraded its rating from Hold to Buy for Cisco Systems, Inc. (NASDAQ: CSCO). , while ‘Exane BNP Paribas’ rates the stock as ‘Neutral’
In other news, Wong Maria Victoria, SVP & Chief Acctg Officer sold 638 shares of the company’s stock on Sep 12 ’24. The stock was sold for $31,319 at an average price of $49.09. Upon completion of the transaction, the SVP & Chief Acctg Officer now directly owns 46,017 shares in the company, valued at $2.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12 ’24, EVP, Operations Subaiya Thimaya K. sold 1,328 shares of the business’s stock. A total of $64,966 was realized by selling the stock at an average price of $48.92. This leaves the insider owning 132,910 shares of the company worth $6.78 million. A total of 0.22% of the company’s stock is owned by insiders.
During the past 12 months, Cisco Systems, Inc. has had a low of $44.50 and a high of $56.47. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 0.91, and a quick ratio of 0.83. According to the stock market information, the enterprise value for the company is $217286197248, which is based on a 20.11 price-to-earnings ratio, a 4.99 price-to-earnings-growth ratio, and a beta of 0.82. The fifty day moving average price for CSCO is $48.0614 and a two-hundred day moving average price translates $48.55485 for the stock.
The latest earnings results from Cisco Systems, Inc. (NASDAQ: CSCO) was released for 2024-07-27. The net profit margin was 19.18% and return on equity was 22.98% for CSCO. The company reported revenue of $13.64 billion for the quarter, compared to $15.2 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.27 percent.
