Cisco continues gains for seven straight sessions

Cisco (NASDAQ:CSCO) continued gains for a seventh straight session, as the stock closed 0.32% higher on Friday at $53.02.

The California-based technology company added 2.74% over the course of the last six trading days. The stock has gained 4.91% so far this year, compared to an over 20% rise in the broader S&P 500 Index.

Cisco (CSCO) is up 6% over the past one month. The stock closed 0.38% higher at $52.85 on Thursday.

Cisco (CSCO) recently reiterated expectation for $1B of AI product orders in fiscal year 2025 and said that it does not include the investments made by enterprises in AI infrastructure.

This comes after the company last month announced plans to reduce its global workforce by about 7%, equating to more than 6300 employees.

Recent restructuring updates and upbeat expectations have been perceived positively by analysts. Seeking Alpha’s Quant rating considers the stock a HOLD and has given it a score of 3.34 out of 5, with an A+ in profitability, and a D- in growth.

Among Wall Street analysts, 9 out of 27 analysts recommend BUY and above, 18 recommend HOLD, and none recommend SELL.

Seeking Alpha analysts are also bullish on the stock and have rated it as a BUY.

Analyst Steven Fiorillo believes that Cisco is currently undervalued, and it is poised to benefit from the AI build out and economic setup in 2025. Fiorillo argues that the current economic environment, with lower rates, inflation, and commodity prices, is favorable for CSCO’s IT infrastructure and security products.

“CSCO’s growing subscription business and consistent dividend increases position it as an attractive value stock, especially as the Fed cuts rates and investors seek yield,” Fiorillo added in his note.