The company issued an upbeat 2025 forecast
Cisco Systems Inc (NASDAQ:CSCO) reported a top- and bottom-line win for the fiscal second quarter, and announced an upbeat earnings and revenue outlook for 2025. Shares are up 2.7% at $64.23 at last glance, after earlier surging to a 24-year high of $66.50. The equity also attracted no fewer than eight price-target hikes in response, including one from Melius Research to $80 from $73.
CSCO sports a 35% nine-month lead and is breaking above resistance at the $63 region, which rejected last week's rally attempt. The stock is bouncing off support from its 20-day moving average, which came into place in late January, as it heads for its best day since November.
At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CSCO's 50-day call/put volume ratio of 5.19 ranks higher than 96% of annual readings. This suggests traders have been more bullish than usual.
Drilling down to today's options activity, 92,000 calls and 28,000 puts have already crossed the tape, which is 5 times the volume typically seen at this point. The most active contract is the March 65 call.