RBC Capital Believes Cisco Systems (NASDAQ: CSCO) Won’t Stop Here

By Carrie Williams

RBC Capital analyst Matt Barasch reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO) on November 13 and set a price target of $36. The company’s shares closed yesterday at $34.04, close to its 52-week high of $34.75.

According to TipRanks.com, Barasch is a 4-star analyst with an average return of 5.4% and a 72.0% success rate. Barasch covers the Financial sector, focusing on stocks such as American International Group, Colliers International Group, and FirstService Corporation.

Currently, the analyst consensus on Cisco Systems is Moderate Buy and the average price target is $36.03, representing a 5.8% upside.

In a report issued on October 31, Oppenheimer also assigned a Buy rating to the stock with a $36 price target.

Based on Cisco Systems’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $12.13 billion and quarterly net profit of $2.42 billion. In comparison, last year the company earned revenue of $12.35 billion and had a net profit of $2.32 billion.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.