Yahoo Finance Cisco's (CSCO) New Devices Expand Hybrid Workforce Footprint
Cisco Systems CSCO recently unveiled the Board Pro G2 and Desk Phone 9800 Series, which marks a significant leap in catering to the evolving needs of today’s hybrid workforce. As companies navigate the shift toward permanent hybrid models, Cisco’s new offerings aim to bridge the gap in technology requirements for seamless collaboration.
The Board Pro G2 stands out as a versatile, AI-fueled collaboration device designed for various workspaces, from huddle rooms to meeting areas and classrooms. Its advanced features include an intelligent 96-megapixel camera system and AI virtual zoom capability. It is powered by NVIDIA chipset for enhanced performance.
Meanwhile, the Desk Phone 9800 Series addresses the changing office landscape with personalized productivity features tailored to modern workstyles. Employees can reserve desks in advance, utilize wayfinding to locate spaces and seamlessly connect to meetings through QR code scanning. With enterprise-grade security measures and simplified manageability, this series ensures a seamless user experience while reducing deployment complexities for IT admins.
The integration of both devices with Cisco Spaces and Control Hub streamlines IT management and provides valuable insights for informed decision-making by corporate real estate teams. By offering a comprehensive suite of collaboration solutions, Cisco empowers organizations to optimize their hybrid work environments and drive meaningful outcomes for their workforce.
Cisco’s Prospects Suffer From Stiff Competition
The latest devices enhance Cisco’s prospects in the hybrid workplace domain, which is currently dominated by the likes of Zoom Video ZM and Alphabet GOOGL through its Google Workspace.
Alphabet’s Google Workspace offers docs, slides and drive that make it easy to store and share information while chat and meet facilitate online communication. Zoom has been benefiting from features like easy to deploy, use and manage.
Cisco Systems, Inc. Price and Consensus
Cisco Systems, Inc. price-consensus-chart | Cisco Systems, Inc. Quote
Zoom recently announced the general availability of Swoogo’s hybrid events offering on the Zoom App Marketplace. This offering brings together Zoom Event’s virtual platform and Swoogo’s in-person event management technology to empower event organizers to reach broader audiences.
Given the intensifying competition in the hybrid workplace domain, Cisco’s latest devices are expected to help it play catch up.
Nevertheless, it is suffering from increasing macroeconomic uncertainty and decreased demand from telecommunication and cable service providers.
The challenges stemming from a cautious economic environment, including heightened scrutiny of deals by customers, delayed product deployments, and reduced overall demand, negatively impacted CSCO’s top-line growth.
For third-quarter fiscal 2024, Cisco expects revenues between $12.1 billion and $12.3 billion. The Zacks Consensus Estimate for revenues is pegged at $12.31 billion, indicating a 15.5% year-over-year decline.
Non-GAAP earnings are anticipated between 84 cents and 86 cents per share. The Zacks Consensus Estimate is currently pegged at 85 cents per share, suggesting a 15% year-over-year decline.
Zacks Rank & A Stock to Consider
Cisco currently has a Zacks Rank #4 (Sell).
Meta Platforms META, sporting a Zacks Rank #1 (Strong Buy) at present, is a better-ranked stock in the broader Zacks Computer & Technology sector. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Meta have returned 42.1% year to date, while Cisco and the broader Zacks Computer and Technology sector have lost 1.7% and 2%, respectively.
Long term earnings growth rate for Meta is currently pegged at 19.5%.
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