Analysts have a consensus target price of $28.68 in the 12-month period. The price objective is 3.99% higher than the recent closing price of $27.58. The 52-week price range is $22.26-$29.00 and the company has a market capitalization of $139.83 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. 2 analyst has rated the stock with a sell rating, 6 has assigned a hold rating, 1 says it’s a buy, and 17 have assigned a strong buy rating to the company.
On March 22, 2016 Cisco Systems, Inc. (CSCO) has completed its acquisition of Jasper, a privately held company based in Santa Clara, Calif. Jasper’s industry-leading cloud-based Internet of Things (IoT) service platform enables companies of all sizes to rapidly and cost-effectively launch, manage and monetize IoT services on a global scale.
With the acquisition, Jasper forms the new IoT Cloud Business Unit within Cisco. Together, Cisco and Jasper will bring to market a comprehensive IoT service platform to enable service providers, enterprises and ecosystem partners to rapidly build IoT service businesses such as usage-based insurance for connected cars, predictive maintenance for industrial manufacturing, and asset tracking for commercial fleet management.
Cisco and Jasper will continue to deliver on Jasper’s product roadmap and support Jasper’s existing ecosystem partners. Cisco will also build upon Jasper’s IoT service platform and add new services including advanced IoT security, support for additional connectivity options like enterprise Wi-Fi and low-power wide-area network (LPWAN), and analytics solutions.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications. The company also offers service provider video infrastructure, including set-top boxes, cable/telecommunications access products, and cable modems; and video software and solutions. In addition, it provides collaboration products comprising unified communications products, conferencing products, telepresence systems, and enterprise mobile messaging products; data center products, such as blade, rack, and modular servers, fabric interconnects, software, and server access virtualization solutions; security products, including network and data center security, advanced threat protection, Web and email security, access and policy, unified threat management, and advisory, integration, and managed services; and other products, such as emerging technologies and other networking products. Further, the company offers wireless products consisting of wireless access points; network managed services; and standalone, switch-converged, and cloud managed solutions. Additionally, it provides technical support services and advanced services. The company serves businesses of various sizes, public institutions, governments, and communications service providers. Cisco Systems, Inc. sells its products directly, as well as through channel partners, such as systems integrators, service providers, other resellers, and distributors. The company was founded in 1984 and is headquartered in San Jose, California.
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