Shares of Cisco Systems climbed 2.2% in mid-day trading on Tuesday following Evercore ISI’s decision to raise its rating from In Line to Outperform. The firm simultaneously lifted its target to $100 from $80, marking one of the most bullish revisions in six months. This upgrade reflects Evercore ISI’s confidence in Cisco’s expanding software and subscription revenue streams, which grew 12% year-over-year in the most recent quarter.

A total of sixteen research firms currently carry Buy ratings on Cisco versus eight with Hold recommendations, resulting in a consensus Moderate Buy stance. UBS, Morgan Stanley, BNP Paribas Exane and Piper Sandler have all recently raised their target prices, with Morgan Stanley moving its objective to $91 and UBS to $90. These upward revisions underscore broad expectations for continued margin expansion and steady cash flow generation in fiscal 2026.

Mid-day volume of 17.6 million shares represented a 6% drop from Cisco’s 20-day average, suggesting selective participation despite the upgrade. Meanwhile, insiders have offloaded more than one million shares over the past three months, with total insider sales amounting to approximately $81 million. Executive vice president Thimaya Subaiya reduced her holdings by nearly 24%, signaling a more cautious view among senior management.

Cisco’s newly released 2026 Data and Privacy Benchmark Study surveyed over 5,200 IT and security professionals across 12 global markets. Findings reveal that 90% of organizations have expanded privacy programs in response to AI adoption, and 93% plan further investment. With 38% of companies spending at least $5 million on privacy initiatives—up from 14% a year earlier—Cisco stands to benefit from rising demand for its AI-powered governance and data protection solutions.