Cisco Systems Inc. (CSCO) – Keep The Big Picture In Mind

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Cisco Systems Inc. (CSCO) gained positive momentum after an analyst from JPMorgan published a report. CSCO stock rose by 2.72% during the Monday trading session. During the trading session, the share price reached a low point of $46.20, while the day’s high point was recorded at a share price of $48.40. According to Barchart data, CSCO closed the last session at $46.25, while its trading volume was 34.18 million.

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Samik Chatterjee, an analyst at JPMorgan, believes Cisco can have strong revenue and gross margin growth in the third quarter. Despite the peak of COVID-19, the company continues to face a shortage of semiconductors. However, Cisco’s analyst believes its competitor has a better ability to handle this imbalance than Cisco. Cisco is also benefiting from increased IT costs and customer switch to subscriptions, some of the positive factors.

Samik Chatterjee sees Cisco’s stock price as attractive, even though Cisco has barely participated in the 2020 tech rally. As a result of these developments, JPMorgan raised its price target for CSCO shares to $55 from $50.

Although technology stocks will be volatile in early 2021, the IT market continues to move towards software-as-a-service (SaaS). Cisco has followed this trend by increasing subscription sales in total sales. At the same time, it remains committed to developing promising areas of the hardware. The Cisco Group plans to expand its high-performance routers and its communications equipment by acquiring Acacia Communications, Inc. (ACIA).

Cisco Systems Inc.’s (CSCO) price surged on Monday, effectively giving the stock another boost in recent months. We can measure how the stock has performed thus far this year using a few metrics. In the past 12 months, CSCO has gone up by 19.73%, while its stock price has soared by 16.02% in the past six months. The company’s quarterly performance currently stands at 7.71%, and it has increased by 0.55% in the last month. This week, the performance stands at 3.46%.

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