Robert W. Baird Believes CSCO Still Has Room to Grow

In a report released today, Jayson Noland from Robert W. Baird reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO). The company’s shares closed yesterday at $31.48, close to its 52-week high of $31.95.

According to TipRanks.com, Noland is a 4-star analyst with an average return of 10.5% and a 58.7% success rate. Noland covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Riverbed Technology, and Palo Alto Networks.

Currently, the analyst consensus on Cisco Systems is Moderate Buy and the average price target is $33.53, representing a 6.5% upside.

In a report issued on September 22, RBC Capital also reiterated a Buy rating on the stock with a $35 price target.

Based on Cisco Systems` latest earnings report from July 31, the company posted quarterly revenue of $12.64B and quarterly net profit of $2.81B. In comparison, last year the company earned revenue of $12.84B and had a net profit of $2.32B.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Last month, Michael Capellas, a a Director at CSCO bought 15,000 shares for a total of $439,500.