What's Happening with CSCO
Tech giant Cisco (CSCO) is scheduled to report its fiscal first-quarter numbers after the market close November 13. Analysts forecast earnings of $0.81 per share for the quarter, up from $0.75 during the same period last year. CSCO stock has gained 11.7% year to date.
Technical Analysis
CSCO was recently trading at $48.41 down $9.85 from its 12-month high and $8.16 above its 12-month low. InvestorsObserver's Stock Score Report gives CSCO a 30 long-term technical score and a 22 short-term technical score. The stock has recent support above $46 and recent resistance below $50. Of the 19 analysts who cover the stock 11 rate it Strong Buy, 2 rate it Buy, 6 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, CSCO gets a score of 35 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
Last quarter Cisco reported a small earnings beat and sales that were in-line with the consensus. The market expected more, and the stock sold off on the news. CSCO stock has traded sideways in the last three months since the report and it will take a strong set of numbers for shares to break out of their sideways trend. The street is optimistic ahead of the report with a whisper number of $0.83 for the quarter. Shares have started to move higher over the last two weeks as the broader market has risen to new highs, and with the stock trading at just 13.7 times future earnings there is a lot of upside potential on a strong report. Last quarter proved that the company has to do better than just posting in-line numbers, and the $0.83 whisper number is the figure that the market is really going to want to see in order for CSCO stock to continue to build on the weak upward momentum it has enjoyed over the last two weeks. Analysts see a lot of upside in the stock with an average price target of $55.65