Cisco Systems Inc CSCO will report its third-quarter earnings Wednesday after the market close, with Wall Street expecting earnings per share of 92 cets and revenue of $14.08 billion.

The stock has climbed 25.4% over the past year, despite being down 3.87% year-to-date and slipping 6.92% in the past month. However, over the last five trading days, Cisco stock has regained 2.53%, and a confluence of bullish technical signals suggests momentum may just be heating up.

Let's take a look at what's propelling Cisco's stock and how the charts are setting up ahead of earnings.

Read Also: How To Earn $500 A Month From Cisco Stock Ahead Of Q3 Earnings

A Strategic AI Infusion

Cisco just added a major dose of AI credibility to its board, appointing Kevin Weil, Chief Product Officer at OpenAI, effective May 12. Weil's resume includes product leadership at X (formerly Twitter), Instagram and now OpenAI — the company behind ChatGPT. CEO Chuck Robbins said that Cisco would "leverage his deep expertise in AI and product innovation to guide our strategic initiatives."

That's not all. Cisco also announced an expanded partnership with Saudi Arabia's HUMAIN AI, aiming to power the Kingdom's AI infrastructure under Vision 2030. Additional collaborations with G42 and the AI Infrastructure Partnership (AIP) across the UAE and the U.S. further entrench Cisco in the global AI arms race.

Cisco Stock Strongly Bullish Ahead Of Q3 Earnings

Chart created using Benzinga Pro

Cisco stock at $61.38 trades decisively above its eight-, 20-, 50- and 200-day simple moving averages, triggering a string of bullish technical signals. The eight-day SMA sits at $60.30, the 20-day at $58.07, the 50-day at $59.13 and the 200-day at $56.79 — all beneath the current price.

The Moving Average Convergence Divergence (MACD) indicator clocks in at 0.79, further reinforcing the bullish momentum. Meanwhile, the Relative Strength Index (RSI) is at 64.67 — elevated, but not yet in overbought territory.

Cisco Analysts See 9% Upside

Cisco Analysts Ratings & Consensus Estimates: The consensus rating on Cisco stock stands at Buy, with an average price target of $62.65. Recent bullish sentiment from top Wall Street firms reinforces that view.

The three most recent analyst updates — from Evercore ISI Group, Rosenblatt and JPMorgan — carry an average price target of $66.67, implying an upside of roughly 8.66% from current levels.

CSCO Price Action: Cisco stock was trading down 1.25% at $61.01 at the time of publication on Wednesday.

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• Cisco’s Partners With AIP In Latest AI Push

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