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Cisco Systems (CSCO) Enhances European Data Sovereignty
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Cisco Systems (CSCO - Free Report) recently announced collaborations with Deutsche Telekom and Evidento to provide sovereign controls for European customers. This initiative aims to enhance data security for European customers using Webex.
Encryption keys for Webex Meetings, Messaging, and Calling User-Generated Information will be administered and hosted within Europe, reinforcing data security for businesses, educational institutions, healthcare providers, and government entities.
With these enhanced data security measures, users can benefit from the latest cloud and collaboration technologies. Webex's zero trust end-to-end encryption ensures data security during transit and storage.
Expanding Security Portfolio to Aid Prospect
Cisco is riding on the growing demand for its security, artificial intelligence, and cloud products. Its security portfolio benefits from the launch of new data loss prevention, firewall and zero trust capabilities.
Cisco shares have returned 13.1% year to date, outperforming the Zacks Computer – Networking industry’s growth of 11.2% but underperforming the Zacks Computer & Technology sector’s return of 38.9%.
Cisco’s investments across the security business, focusing on cloud-based and AI-driven offerings, are expected to drive growth. Expanding growth opportunities for low-power-consuming technologies, including IoT, Silicon One and Power over Ethernet, bodes well for the company’s prospects.
In September, Cisco announced the acquisition of Splunk for $28 billion, a strategic move to enhance AI, security, and observability strengths, ensuring digital resilience and streamlined data management.
Adding Splunk will help expand Cisco’s footprint in the cybersecurity domain and accelerate its strategy of securely connecting everything.
Cisco also introduced Secure Application on the Full-Stack Observability Platform, enhancing security for cloud-native and hybrid applications, addressing vulnerabilities, and reducing security risks.
For first-quarter fiscal 2024, Cisco expects revenues between $14.5 billion and $14.7 billion. The Zacks Consensus Estimate for the current quarter is pegged at $14.61 billion, suggesting a year-over-year growth of 7.18%.
The Zacks Consensus Estimate for fiscal 2024 revenues are pegged at $57.74 billion, indicating a 1.3% year-over-year growth.
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Cisco Systems (CSCO) Enhances European Data Sovereignty
Cisco Systems (CSCO - Free Report) recently announced collaborations with Deutsche Telekom and Evidento to provide sovereign controls for European customers. This initiative aims to enhance data security for European customers using Webex.
Encryption keys for Webex Meetings, Messaging, and Calling User-Generated Information will be administered and hosted within Europe, reinforcing data security for businesses, educational institutions, healthcare providers, and government entities.
With these enhanced data security measures, users can benefit from the latest cloud and collaboration technologies. Webex's zero trust end-to-end encryption ensures data security during transit and storage.
Expanding Security Portfolio to Aid Prospect
Cisco is riding on the growing demand for its security, artificial intelligence, and cloud products. Its security portfolio benefits from the launch of new data loss prevention, firewall and zero trust capabilities.
Cisco Systems, Inc. Price and Consensus
Cisco Systems, Inc. price-consensus-chart | Cisco Systems, Inc. Quote
Cisco shares have returned 13.1% year to date, outperforming the Zacks Computer – Networking industry’s growth of 11.2% but underperforming the Zacks Computer & Technology sector’s return of 38.9%.
Cisco’s investments across the security business, focusing on cloud-based and AI-driven offerings, are expected to drive growth. Expanding growth opportunities for low-power-consuming technologies, including IoT, Silicon One and Power over Ethernet, bodes well for the company’s prospects.
In September, Cisco announced the acquisition of Splunk for $28 billion, a strategic move to enhance AI, security, and observability strengths, ensuring digital resilience and streamlined data management.
Adding Splunk will help expand Cisco’s footprint in the cybersecurity domain and accelerate its strategy of securely connecting everything.
Cisco also introduced Secure Application on the Full-Stack Observability Platform, enhancing security for cloud-native and hybrid applications, addressing vulnerabilities, and reducing security risks.
For first-quarter fiscal 2024, Cisco expects revenues between $14.5 billion and $14.7 billion. The Zacks Consensus Estimate for the current quarter is pegged at $14.61 billion, suggesting a year-over-year growth of 7.18%.
The Zacks Consensus Estimate for fiscal 2024 revenues are pegged at $57.74 billion, indicating a 1.3% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, CSCO has Zacks Rank #3 (Hold).
Dell Technologies (DELL - Free Report) and NVIDIA (NVDA - Free Report) are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL and NVDA shares have returned 71.7% and 220.7%, respectively, year to date.
Long-term earnings growth rates for Dell Technologies and NVIDIA are pegged at 12% and 13.5%, respectively.