Cisco Stock Is Up 42% in a Year, How Much Higher Can CSCO Go?

Cisco (CSCO) has been on an impressive run over the past year, with its stock soaring 42.5% and reaching a fresh 52-week high on Tuesday, June 24. Moreover, the strength across the company’s key performance metrics suggests that CSCO stock has further room to run.  

Cisco reported solid momentum in future revenue growth drivers during its latest quarterly earnings report (Q3). The company’s annualized recurring revenue (ARR), subscription-based income, and remaining performance obligations (RPO) showed healthy growth. Cisco’s total ARR stood at $30.6 billion at the end of the quarter, an increase of 5%, with product ARR growth of 8%. Meanwhile, total subscription revenue grew 15% to $7.9 billion and represented 56% of Cisco’s total revenue. Total RPO was $41.7 billion, up 7%. The strength in these key performance metrics suggests solid growth ahead, which will support its share price.