NEW YORK (TheStreet) -- Shares of Cisco Systems Inc (CSCO) are trading up 0.34% to $29.31 in afternoon trading Tuesday, one day ahead of the company's fiscal third quarter earnings release after the market closes Wednesday.
Cisco is expected to earn 53 cents per share on $12.06 billion for the quarter, according to analysts polled by Thomson Reuters.
The report marks long-time Cisco CEO John Chambers' last, before stepping down on July 26.
"It's a technology play that has figured out the Internet-of-Things better than any other company," Cramer added.
On Monday morning, analysts at Pacific Crest Securities upgraded Cisco to "overweight" from"sector weight" with a $36 price target.
The firm noted that Cisco's April quarter could mark "the beginning of a multi-quarter recovery."
Cisco designs, manufactures, and sells Internet protocol-based networking and other products related to the communications and information technology industry.
The company also has a line of products for transporting data, voice, and video around the world, operating in the Americas, Europe, Middle East, Africa, Asia Pacific, Japan, and China. It is based in San Jose, Calif.
Insight from TheStreet's Research Team:
Cisco is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager and Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock: