Cisco Systems Inc. (NASDAQ: CSCO) had its price target boosted by equities researchers at Deutsche Bank AG from $35.00 to $37.00.Deutsche Bank AG currently has a rating of Buy on the shares. A number of other analysts have commented on the stock in recent days, and Cisco Systems Inc. has earned a consensus one-year price target of $33.04, higher than the opening price of $31.01, a difference of 10.66 percent. Cisco Systems Inc. stock has a 52-week high of $31.95.
Stocks closed mostly in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.
The Dow Jones Industrial Average DJIA, -0.18% slid 31.98 points, or 0.2%, to close at 18,034.77
The S&P 500 index SPX, -0.06% fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector.
The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.
Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of Cisco Systems Inc. (NASDAQ: CSCO) opened at $31.01 yesterday and traded in a range between, $30.81 and $31.23, and last traded at $31.00, which represents a change of $ -0.06 over the previous closing price.
Cisco Systems Inc. (NASDAQ: CSCO) now has a market cap of 155.44B
The stocks average daily volume is 23,122,100 shares out of a total float 5,010,543,000 and some 24,356,477 shares crossed the trading desk yesterday, 72 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Cisco Systems Inc. (NASDAQ: CSCO) now has a 50-day MA is $31.06 and 200-day MA is $28.96, and it has traded in a 52-week range between $22.46 – 31.95 and today’s last price is -2.97 percent off the 52 week high of $31.95.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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