Are Wall Street Analysts Bullish on Cisco Systems Stock?

San Jose, California-based Cisco Systems, Inc. (CSCO) designs, develops, and sells technologies that help to power, secure, and draw insights from the internet. Valued at a market cap of $304.3 billion, the company is best known for its routers and switches and also offers solutions in areas such as cybersecurity, cloud networking, data center infrastructure, collaboration, and observability.

This tech company has outpaced the broader market over the past 52 weeks. Shares of CSCO have surged 32.2% over this time frame, while the broader S&P 500 Index ($SPX) has gained 16%. However, on a YTD basis, the stock is up 1.4%, lagging behind SPX’s 1.9% return.

Zooming in further, CSCO has outperformed the First Trust NASDAQ Cybersecurity ETF (CIBR), which rose 10.7% over the past 52 weeks and 1.3% on a YTD basis. 

On Jan. 26, shares of CSCO rose 3.2% after Evercore Inc. (EVR) upgraded the…