Cisco Systems Downgraded to 'Hold' by Wall Street Zen

Cisco Systems (NASDAQ:CSCO) has been downgraded by Wall Street Zen from 'buy' to 'hold', according to a research note issued on Saturday. This is not the only recent change in rating for CSCO, as Bank of America increased its price objective on shares from $135.00 to $150.00 and gave the company a 'buy' rating on Monday, June 8th.

Several other brokerages have commented on CSCO in recent months. Freedom Capital raised shares of Cisco Systems from a 'hold' rating to a 'strong-buy' rating in a research note on Sunday, August 16th. Truist Financial upped its price target on shares of Cisco Systems from $125.00 to $140.00 and gave the stock a 'buy' rating in a report on Thursday, August 13th.

The company's recent earnings results showed that it reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%. The firm had revenue of $17.25 billion for the quarter, compared to analysts' expectations of $16.84 billion.