Cisco Systems Inc. (NASDAQ:CSCO) has been making waves with a rally of 16.23% year-to-date and a notable 8.18% rise in the past month. With first-quarter earnings set to be announced on Wednesday after market close, the buzz is thick on Wall Street. Analysts expect an EPS of 87 cents and revenues to hit $13.77 billion.

But with so much upward momentum, will Cisco manage to stay in bullish territory?

JPMorgan Sees Room For Growth Despite Recent Gains

JPMorgan certainly thinks so. On Monday, the investment firm upgraded Cisco to Overweight and boosted its price target from $55 to $66, emphasizing robust demand in enterprise networking.

According to JPMorgan, despite the post-earnings pop following the Q4 report, Cisco still has room to rise, driven by expanding AI-native infrastructure and new partnerships like the one with LTIMindtree for global SASE solutions.

This partnership is set to bolster Cisco's footprint in secure hybrid work solutions, a strong tailwind in the current market.

The company also introduced its next-gen Wi-Fi 7 access points—AI-driven and optimized for smart spaces. These products are part of Cisco's advanced networking lineup, built to provide seamless connections and meet the demands of both in-office and remote environments.

Read Also: Cisco Q1 Earnings Preview: EPS, Revenue Beat Streak In Focus As Analysts See Potential 'Large-Cap Breakout'

CSCO Stock Charts Indicate Bulls Are In Control

Cisco's technicals suggest a stock riding a powerful bullish wave.

Chart created using Benzinga Pro

With its price sitting comfortably at $58.71, above its five, 20 and 50-day exponential moving averages, the trend points north. The stock's eight-day simple moving average sits at $57.76, its 20-day SMA at $56.66, and its 50-day SMA at $53.82—all below its current price, signaling bullishness across the board.

However, there are hints of caution. Cisco's Relative Strength Index (RSI) of 76.37 lies in overbought territory. Meanwhile, the Moving Average Convergence/Divergence (MACD) of 1.30 provides further bullish reinforcement but raises questions about potential pullbacks.

The setup implies strong upside momentum, yet investors may want to keep a close eye on earnings. If Cisco meets or exceeds forecasts, the stock could continue its ascent—but any surprises might bring a quick reality check.

Cisco bulls are in control for now, but with earnings on deck, it's time to see if the networking giant can keep this pace.

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