Is Cisco Systems (CSCO) a 'Buy' Ahead of Its Upcoming Earnings Announcement?

Tech heavyweight Cisco Systems CSCO is set to report fiscal Q4 earnings results on Wednesday after the closing bell. Cisco, a Zacks Rank #2 (Buy), has handily outperformed the market year-to-date with a 22% return. With the stock hitting all-time highs, is Cisco a buy heading into the release?Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Analysts are expecting CSCO to deliver quarterly earnings of $0.97 per share, which would reflect growth of 11.5% relative to the same quarter in the prior year. Projected revenues of $14.6 billion would mark a 7% improvement versus the year-ago period.Cisco has beaten earnings estimates in each of the past four quarters, sporting a 3.9% average earnings surprise over that timeframe. Cisco’s business has evolved with subscription revenues accounting for more than half of total revenues.Strong demand for Cisco’s products in developing AI infrastructure has been a game changer. The company has inked strategic alliances with most major technology companies globally.Our proprietary Earnings ESP does not conclusively predict another beat for Wednesday’s announcement. As always, investors should exercise caution as stocks can be volatile surrounding earnings releases.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks