Boston, MA 08/04/2014 (wallstreetpr) – In a bid to embrace the security, wireless and cloud technology market, Cisco Systems, Inc. (NASDAQ:CSCO) is facing pressure to make the transition from its traditional line of products in networking that are seeing decreasing growth. Its stocks have been downgraded from perform from outperform by an analyst at Pacific Crest Securities though the shares are valued at fairly reasonable price. Moreover Cisco will have to compete fiercely with software storage vendors such as EMC Corporation (NYSE:EMC) in the cloud market. Analysts are surprised of decline in Cisco suite of products and its transition to cloud technology might result in loss of share value.
Innovation Center in Barcelona
Cisco Systems, Inc. (NASDAQ:CSCO) and Barcelona City Council (Spain) have joined hands to set up a Cisco Global IoE (Internet of Everything) Innovation Center in Barcelona. The Center would serve as single platform for smart cities growth by leveraging advanced research and technologies for the new markets. Cisco would spend a whopping $30 million in restoration of facilities at the Barcelona allocated facilities, innovation lab, IT technology and acquiring suitable talent pool for the same. The IoE center is expected to be opened in the year 2016 and will work with other similar Cisco centers to explore the market of IoE in developing smart cities. IoE carries an approximate global value creation of $19 trillion by the year 2022 assisting the private and public companies utilize the complete potential of internet services.
Cisco is rated buy by analysts at TheStreet. The analysts are positive that the stocks will outperform due to the company’s investment measures being undertaken. TheStreet analysts state that the Cisco Systems, Inc. (NASDAQ:CSCO) has good cash flow from operation, eye catching valuation levels, strong financial position and reasonable debt levels. The analysts also state that the company’s strengths outweigh the any kind of negatives attached to the progress of the company stocks.
Schedule for Fourth Quarter Results
Cisco Systems, Inc. (NASDAQ:CSCO) announced conference call for the release of the fourth quarter results for the financial year 2014 for the period ending 26 July, 2014. The appointed time is 1:30 PM (PT) released over marketwired after the close of market on 13 August, 2014.