Robert W. Baird Believes Cisco Systems Inc (NASDAQ: CSCO) Still Has Room to Grow

By Ryan Adsit

In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Cisco Systems Inc (CSCOResearch Report), with a price target of $57. The company’s shares closed yesterday at $56.34, close to its 52-week high of $58.15.

Ruykhaver commented:

“We appreciate Cisco’s desire to reinforce its position as the leader in enterprise networking as customers demand higher throughput solutions.”

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 23.0% and a 75.0% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.

Cisco Systems Inc has an analyst consensus of Strong Buy, with a price target consensus of $59.59, a 5.8% upside from current levels. In a report issued on June 25, Cowen & Co. also reiterated a Buy rating on the stock with a $65 price target.

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The company has a one-year high of $58.15 and a one-year low of $40.25. Currently, Cisco Systems Inc has an average volume of 22.5M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is neutral on the stock.

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