Cisco (CSCO - Free Report) recently rolled out Webex Control Hub Extended Security Pack with an aim to empower Webex customers with robust data security enhancements.
The new security pack features Cisco Cloudlock cloud access security broker (or CASB) with support to Data Loss Prevention (or DLP) policies for Webex Teams.
The pack is also integrated with ClamAV anti-malware capabilities from Cisco’s Talos unit, deployed on Webex Cloud. This feature guards Webex users from data loss via ransomware like Trojans, to name a few.
The latest pack presents a robust easy-to-deploy add-on to Webex subscription users’ to strengthen data security and ensure seamless collaboration.
Cisco is anticipated to boost user engagement and adoption on enhanced data security provisions by integrating its cybersecurity capabilities across Webex portfolio. This is expected to augur well for the top line in the days ahead.
Strength in Collaboration & Security Favors Prospects
Cisco is leaving no stone unturned to enhance its collaboration portfolio with cognitive capabilities via strategic acquisitions, collaborations and integration with in-house security functionalities.
For instance, the company aims to enrich Webex Assistant service with AI-based voice-recognition and transcription capabilities from the recently closed Voicea buyout.
Integrating AI and ML capabilities into enterprise collaboration solutions is anticipated to increase productivity of users, and improve engagement. This in turn is expected to bolster adoption of Webex Meetings, Webex Devices and Webex Teams, among others.
Additionally, integration with Cisco’s AI-driven Talos intelligence platform, which blocks approximately 200 billion malicious emails per day, bodes well. The combination of cognitive and security capabilities strengthens Cisco’s Webex portfolio manifold.
Companies like Wacker Chemie AG and NTT Communications, are looking forward to utilize Cisco’s latest Webex Control Hub Extended Security Pack. The pack offers CASB standard anti-malware features, providing users with data security from malicious attacks.
Gartner’s positioning of Cisco in the Leader’s Quadrant in the latest “2019 Gartner Magic Quadrant for Meeting Solutions” is a testament to the growing influence of the company’s enterprise collaboration solutions.
Rising spend on cognitive solutions and cybersecurity tools, enhance the prospects of the new offering. Per Gartner, worldwide spending on security technology is likely to exceed $124 billion in 2019. This combined with Cisco’s strength and expertise in Internet and endpoint security space is likely to favor the company’s business prospects in the days ahead.
However, in the enterprise collaboration space, Cisco faces stiff competition from Microsoft’s (MSFT - Free Report) Office 365, and Zoom’s Meeting & Chat and other Workspace offerings. Notably, both Microsoft and Zoom are striving to enhance their collaboration services with cybersecurity features.
Zacks Rank and Stocks to Consider
Cisco carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Chegg (CHGG - Free Report) and Perficient (PRFT - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Chegg and Perficient is currently pegged at 30% and 10.75%, respectively.
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