Cisco Systems Continues to Rebound from 52-Week Lows on Hope for the Future
Cisco Systems Inc. (NASDAQ:CSCO) rose over 0.5% to $16.45 following its big analyst meeting yesterday and the company subsequently received a few upgrades from brokerage houses. Analysts were encouraged by stabilizing prices from key customers like Hewlett-Packard (NYSE:HPQ) and John Chambers commitment to remain with the company for another three years.
Cisco has been in the doghouse as the stock was stuck making new 52-week lows only several weeks ago. Shareholders are looking for some fresh business activity and dominance in enterprise and cloud computing against rivals EMC (NYSE:EMC), Oracle (NASDAQ:ORCL), Microsoft (NASDAQ:MSFT), and Apple (NASDAQ:AAPL).
Cisco trades at a P/E ratio of about 14 which is lower than its peers. The company also trades at a sales multiple of 2.1 which is significantly higher than its industry rivals. On the technical front shares trade well below their declining 200 day moving average but above their rising 50 day moving average. The MACD is bullish while RSI is pointing up at 60.
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