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Cisco Earnings Outlook Tied To Network Switching, Security, Economy
Cisco Systems' (CSCO) outlook for its network switching and security businesses loom as key questions when company reports fiscal second-quarter earnings late Wednesday. Cisco earnings are projected to grow 14%.XShares in Cisco are trading about 3% below an entry point ahead of earnings. Cisco stock has a technical buy point of 49.24. Shares have formed a double-bottom chart pattern over four months.A bellwether for information technology spending, the computer networking giant has been shifting to software and services.Analysts see Cisco's revenue rising for the fifth straight quarter. Analysts expect the computer networking giant's revenue to grow 4.4% to $12.41 billion.One question is whether sales of new Catalyst 9000 network switches continue to be a bright spot.Cisco Network Switching Business KeyMorgan Stanley downgraded Cisco to hold on Tuesday."Our latest surveys suggest the pipeline for Cisco security sales among resellers is flattening." Morgan Stanley analyst James Faucette said in a note to clients. "We think this is partly due to slowing improvements in the security portfolio. The recent departure of Sourcefire's founder, who we think has been integral to the security roadmap, gives us additional pause."Cisco bought Sourcefire in 2013 for $2.7 billion.A RBC Capital analyst says Cisco's revenue growth could stall.Cisco IT Spending Outlook"Heading into the January quarter print, we think the focus remains on the success of the switching product cycle and Cisco's ability to maintain its current gross margin profile," RBC Capital analyst Mitch Steves said in his report to clients. "While the revenue growth will likely moderate to low-to-mid singles if the IT spending environment takes a step back, we think the gross margin profile will sustain."Raymond James analyst Simon Leopold maintains an out-perform rating ahead of Cisco earnings."Checks suggest demand from enterprises remained robust, with continued traction from Cisco's Catalyst 9000 more than offsetting weakness in its Middle East business and its server business," Leopold said in a note. "Despite uncertainty regarding macro headwinds, we view consensus for April sales growth of 5% year over year as reasonable."Cisco stock dipped 0.6% to 47.61 on the stock market today.YOU MAY ALSO LIKE:Stocks Near A Buy ZoneGet Notifications For Live IBD Videos By Subscribing On YouTubeBest Growth Stocks To Buy And Watch: See Updates To IBD Stock ListsTrack Stock Market Data On The S&P 500, Nasdaq, Dow Jones And SPDR ETFsIBD 50 Growth Stocks To WatchThe post Cisco Earnings Outlook Tied To Network Switching, Security, Economy appeared first on Investor's Business Daily.
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