Cisco Systems (CSCO – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Meta Marshall from Morgan Stanley maintained a Buy rating on the stock and has a $68.00 price target.
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Meta Marshall has given her Buy rating due to a combination of factors that highlight Cisco Systems’ strong performance and potential for growth. The company exceeded expectations in its fiscal second quarter, particularly in terms of order growth, which was significantly higher than anticipated. This positive result was driven by demand across various customer segments, including webscale, enterprise, and telecommunications, with a notable impact from AI-driven demand.
Additionally, Cisco’s AI infrastructure orders have shown considerable growth, contributing to the company’s robust financial performance. The company’s ability to meet its AI story targets and the observed strength in networking, especially in the campus sector, are expected to sustain its momentum. Furthermore, despite concerns regarding the U.S. Federal sector, Cisco delivered a clean quarter, which, along with its AI narrative, suggests potential for multiple expansion beyond traditional ranges.
In another report released today, Citi also maintained a Buy rating on the stock with a $71.00 price target.
Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSCO in relation to earlier this year.