Analyst Update: Cisco Systems, Inc., Splunk Inc, and Celgene Corporation

Analysts adjusted their ratings and price targets on Cisco Systems, Inc. (NASDAQ:CSCO), Splunk Inc (NASDAQ:SPLK), and Celgene Corporation (NASDAQ:CELG)

by Josh Selway

Published on Feb 5, 2016 at 2:33 PM

Analysts are weighing in today on network specialist Cisco Systems, Inc. (NASDAQ:CSCO), software concern Splunk Inc (NASDAQ:SPLK), and drugmaker Celgene Corporation (NASDAQ:CELG). Here's a quick roundup of today's brokerage notes on CSCO, SPLK, and CELG.

  • Ahead of its quarterly report next Wednesday, CSCO is struggling, dropping 2.7% at $22.91, as the shares continue to consolidate near the lower end of their 12-month range. Aside from broad-market headwinds, a price-target cut to $30 from $33 at Nomura is also weighing on the stock. Unless it picks up the pace on the charts -- maybe by way of additional M&A news -- Cisco Systems, Inc. could be in danger of further bearish analyst attention. Specifically, 68% of covering brokerage firms still say CSCO is at least  a "buy." 

  • SPLK hit a nearly three-year low earlier of $33.77, and was last seen off 23.6% at $35.99, after Pacific Crest lowered its price target by $15 to $67. In their note, the firm cited "eroding macroeconomic conditions" and worries that "high-growth technology companies may witness a sharper deceleration in growth rates." Today's option activity aside, this price action is likely bad news for speculators. For instance, Splunk Inc's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at an elevated 12.49, a reading that tops all others from the past 52 weeks. 

  • Despite some bullish words from J.P. Morgan Securities, CELG has given back 4.6% today at $97.21. To be more specific, the brokerage firm considers the stock a "buy-and-hold" play that should outperform the biotech sector, and broader market, in the long run. Short-term speculators are more call-skewed than usual toward Celgene Corporation, even though it's struggled on the charts, off over 21% since its December highs. This is according to the stock's Schaeffer's put/call open interest ratio (SOIR), which at 0.73 sits below all but 9% of comparable readings taken over the past year. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: The Coca-Cola Co, Lumentum Holdings Inc, and NXP Semiconductors NV and Analyst Downgrades: LinkedIn Corp, Tableau Software Inc, and Twitter Inc.

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