New York, Feb 3, 2026, 19:41 EST — After-hours
- Cisco shares rose 3.1% on Tuesday and remained steady in after-hours trading
- Evercore ISI raised its price target to $175 and maintained an outperform rating
- Investors are turning their attention to Cisco’s Feb. 11 earnings report as the next major catalyst
Cisco Systems shares surged Tuesday following a price target boost from Evercore ISI, providing a rare highlight amid a turbulent tech sector.
Cisco ended the day 3.1% higher, closing at $83.11. After-hours trading showed little movement, with most of the price action happening during the regular session.
This call is crucial as investors aim to distinguish the “AI winners” from firms vulnerable to disruption by emerging tools. Cisco is positioning itself more as the infrastructure supporting data-heavy workloads than just a pure software play.
U.S. stocks closed down, led by the Nasdaq which dropped 1.43%, amid concerns that AI might pressure profit margins in some software companies, Reuters reported.
On Feb. 3, Evercore ISI raised its price target for Cisco to $175 from $100, maintaining an outperform rating, MT Newswires reports.
Cisco set a firm date for its next big update. The company plans to release fiscal second-quarter results after markets close on Wednesday, Feb. 11, with a conference call scheduled for 4:30 p.m. ET.
At Cisco’s AI Summit Tuesday, CEO Chuck Robbins called 2026 “a turning point” for large-scale enterprise AI, highlighting a shift toward “agentic applications” — software agents that handle tasks with minimal human intervention. Network World
Jeetendra Patel, Cisco’s president and chief product officer, pointed to power, compute, and network bandwidth as key bottlenecks for AI expansion. He revealed that Cisco is investing “billions” to boost infrastructure capacity. Patel also noted that 70% of the AI products Cisco is working on incorporate AI-generated code. Network World
Investors will be watching to see if February’s figures reflect that message—not only in revenue but also in orders and guidance linked to AI-driven data center networking and security.
There’s a straightforward risk: if results or guidance on Feb. 11 disappoint, or if customers delay network upgrades further, the upbeat mood from Tuesday could quickly fade—tech sentiment remains fragile after all.
After a subdued after-hours session, focus turns to Wednesday’s trading and Cisco’s earnings report on Feb. 11, which should shed more light on demand trends and outlook for 2026.
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