Cisco Stock Price Prediction: Can the Tech Giant Continue Its Surge?

Cisco Systems (NASDAQ:CSCO) has emerged as one of the surprising winners in the tech sector this year, driven by its strong performance in AI infrastructure. With shares up a staggering 52.76% year-to-date, investors are wondering if the rally has room left to run.

The company's Q3 FY26 revenue hit $15.84 billion, up 12% from last year, and non-GAAP EPS of $1.06 beat consensus estimates. Net income jumped 35.41%, with AI infrastructure orders driving growth. Management raised its FY26 AI order guidance to $9 billion and AI revenue to $4 billion.

Cisco's forward price-to-earnings (P/E) ratio stands at 24, which is significantly lower than that of its peer Arista Networks (NYSE:ANET), trading at a P/E of 47. This discrepancy makes Cisco look like a bargain, with some analysts predicting a re-rating towards Arista multiples.