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March 15, 2021, 5:06 p.m. EDT

Cisco stock enjoys longest winning streak in more than three years

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By Levi Sumagaysay

Cisco Systems Inc. shares closed higher for the seventh consecutive trading session on Monday, their longest winning streak in more than three years.

Shares of the networking-technology company have gained 10.9% during the streak, and hit a 52-week intraday high of $49.44 Monday before closing at $49.41, a daily increase of 1.2%. It is their longest winning streak since they rose for nine consecutive trading days in July of 2017.

The streak began on March 5, which was when JPMorgan Chase analyst Samik Chatterjee upgraded Cisco /zigman2/quotes/209509471/composite CSCO -0.47% stock from overweight to neutral on his expectation, based on a Gartner forecast, that enterprise information-technology spending is poised to exceed expectations after some companies paused spending last year.

Chatterjee also singled out Cisco’s on-track transformation to subscriptions, as well as what he called the San Jose, Calif.-based company’s “still inexpensive valuation following underperformance to peers.” The competition he mentioned: F5 Networks Inc. /zigman2/quotes/209237881/composite FFIV -0.80% , Dell Technologies Inc. /zigman2/quotes/203822527/composite DELL +0.18% , Hewlett Packard Enterprise Co. /zigman2/quotes/201998588/composite HPE +1.66% , HP Inc. /zigman2/quotes/203461582/composite HPQ +0.37% and Xerox Holdings Corp. /zigman2/quotes/201169674/composite XRX +0.72%

Cisco stock has increased 31.3% in the past 12 months, as the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.19% has gained 45.5% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.04% — which counts Cisco as a component — has risen 41.4%. Analysts are pretty evenly split on whether to buy or hold the stock, with 12 of 26 analysts tracked by FactSet rating shares the equivalent of a buy, and the other 14 calling it a hold. The average price target on the stock is $51.90.

/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 54.77
-0.26 -0.47%
Volume: 17.13M
June 11, 2021 4:00p
P/E Ratio
22.73
Dividend Yield
2.70%
Market Cap
$230.81 billion
Rev. per Employee
$636,155
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/zigman2/quotes/209237881/composite
US : U.S.: Nasdaq
$ 192.74
-1.55 -0.80%
Volume: 438,694
June 11, 2021 4:00p
P/E Ratio
42.82
Dividend Yield
N/A
Market Cap
$11.49 billion
Rev. per Employee
$384,813
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/zigman2/quotes/203822527/composite
US : U.S.: NYSE
$ 103.98
+0.19 +0.18%
Volume: 1.92M
June 11, 2021 4:00p
P/E Ratio
20.17
Dividend Yield
N/A
Market Cap
$79.41 billion
Rev. per Employee
$597,019
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/zigman2/quotes/201998588/composite
US : U.S.: NYSE
$ 15.89
+0.26 +1.66%
Volume: 7.60M
June 11, 2021 4:03p
P/E Ratio
32.34
Dividend Yield
3.02%
Market Cap
$20.75 billion
Rev. per Employee
$453,603
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/zigman2/quotes/203461582/composite
US : U.S.: NYSE
$ 30.08
+0.11 +0.37%
Volume: 11.42M
June 11, 2021 4:03p
P/E Ratio
10.67
Dividend Yield
2.58%
Market Cap
$36.13 billion
Rev. per Employee
$1.07M
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/zigman2/quotes/201169674/composite
US : U.S.: NYSE
$ 25.27
+0.18 +0.72%
Volume: 1.93M
June 11, 2021 4:02p
P/E Ratio
23.88
Dividend Yield
3.96%
Market Cap
$4.85 billion
Rev. per Employee
$284,291
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/zigman2/quotes/210599714/realtime
US : S&P US
4,247.44
+8.26 +0.19%
Volume: 1.69B
June 11, 2021 5:16p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,479.60
+13.36 +0.04%
Volume: 262.62M
June 11, 2021 5:16p
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