Rosenblatt upgrades Cisco on strong AI, subscription growth

Investing.com

13 Feb

Investing.com -- Rosenblatt Securities upgraded Cisco Systems Inc (NASDAQ:CSCO) to "Buy" and raised its price target to $80 given strong subscription growth, increasing AI-driven orders, and robust recurring revenues.

Cisco reported second-quarter revenue of $14.0 billion, up 9% with earnings per share of $0.94, exceeding analyst estimates. Total (EPA:TTEF) product orders rose 29%, driven by strength in service provider and cloud segments.

The firm noted double-digit growth in annual recurring revenue and remaining performance obligations, with subscriptions making up 56% of total revenue. AI infrastructure orders with web-scale customers surpassed $350 million in the quarter, putting Cisco on track to exceed $1 billion in AI-related orders for fiscal 2025.

Rosenblatt noted "triple-digit growth" in web-scale orders and over 20% growth in telecom orders, with security revenues and orders more than doubling year-over-year. Cisco also reported early AI-related orders from enterprise customers.

While the firm acknowledged potential risks, including tougher year-over-year comparisons and potential weakness in U.S. public sector spending, it believes Cisco's strong AI momentum and recurring revenue growth justify the upgrade.

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Total  product orders rose 29%, driven by strength in service provider and cloud segments.The firm noted double-digit growth in annual recurring revenue and remaining performance obligations, with subscriptions making up 56% of total revenue. AI infrastructure orders with web-scale customers surpassed $350 million in the quarter, putting Cisco on track to exceed $1 billion in AI-related orders for fiscal 2025.Rosenblatt noted \"triple-digit growth\" in web-scale orders and over 20% growth in telecom orders, with security revenues and orders more than doubling year-over-year. Cisco also reported early AI-related orders from enterprise customers.While the firm acknowl","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"CSCO":"思科"},"translate_title":"罗森布拉特因强劲的人工智能和订阅增长而升级思科","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CSCO":1},"content_text":"Investing.com -- Rosenblatt Securities upgraded Cisco Systems Inc (NASDAQ:CSCO) to \"Buy\" and raised its price target to $80 given strong subscription growth, increasing AI-driven orders, and robust recurring revenues.\nCisco reported second-quarter revenue of $14.0 billion, up 9% with earnings per share of $0.94, exceeding analyst estimates. Total (EPA:TTEF) product orders rose 29%, driven by strength in service provider and cloud segments.\nThe firm noted double-digit growth in annual recurring revenue  and remaining performance obligations, with subscriptions making up 56% of total revenue. 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Cisco also reported early AI-related orders from enterprise customers.\nWhile the firm acknowledged potential risks, including tougher year-over-year comparisons and potential weakness in U.S. public sector spending, it believes Cisco's strong AI momentum and recurring revenue growth justify the upgrade.\nRelated Articles\nRosenblatt upgrades Cisco on strong AI, subscription growth\nOrange CEO pushes for European sovereignty on satellites, to maintain Starlink ties\nPutin and Trump may have another phone call before meeting, says Kremlin","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}