In this article, we discuss the 5 best Jim Cramer stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Jim Cramer Stocks to Buy Now.
5. Cisco Systems, Inc. (NASDAQ: CSCO)
Number of Hedge Fund Holders: 59
Cisco Systems, Inc. (NASDAQ: CSCO) is a technology firm based in California. It is ranked fifth on our list of 15 best Jim Cramer stocks to buy now. The company’s shares have offered investors returns exceeding 14% over the course of the past twelve months. In the lightning round on his show, during which he answers questions from callers, Cramer said in April that he believed that Cisco Systems was set to climb higher as the firm marketed itself to enterprises, sending the share price soaring.
On June 21, investment advisory Evercore ISI raised the price target on Cisco Systems, Inc. (NASDAQ: CSCO) stock to $62 from $58, implying an upside potential of 17% and highlighting the new IT contracts for the firm that added to bullish tailwinds.
At the end of the first quarter of 2021, 59 hedge funds in the database of Insider Monkey held stakes worth $5.1 billion in Cisco Systems, Inc. (NASDAQ: CSCO), down from 60 in the previous quarter worth $4.9 billion.
“Also in IT, we added Cisco Systems, which provides IT and networking services in the form of network security, software development and cloud computing. Cisco continues to derive over 50% of its sales from on-premise deployments of its products of enterprise and small and midsize customers, while recurring revenues from software are becoming a larger part of the mix. Return-to-office enterprise spending should offer upside to its core campus business. Cisco was an early technology leader in sustainability over two decades ago, through its Internet-connecting capabilities which supported live concerts in partnership with the United Nations Development Program to raise awareness and funds to fight poverty. Cisco has very strong environmental standards (including driving lower energy consumption in IT departments through new product innovations and a longstanding goal to reduce emissions and reliance on non-renewable energy sources). Its data privacy and supply chain management policies are best in class.”