Latest news with #Splunk
Techday NZ
a day ago
- Business
- Techday NZ
LogicMonitor appoints Garth Fort as Chief Product Officer to boost AI
LogicMonitor has appointed Garth Fort as Chief Product Officer, tasking him with overseeing the company's global product strategy and execution, with a focus on further developing the LM Envision platform and driving advancement in AI-powered observability and AIOps through its AI agent, Edwin AI. This appointment follows the company's achievement of exceeding USD $300 million in annual recurring revenue (ARR), a milestone attributed to strong expansion into larger market segments and increased adoption of multiple LogicMonitor products. According to LogicMonitor, customers contributing over USD $100,000 in ARR have grown by more than 25 per cent year-over-year and now account for 80 per cent of the total ARR. The company also noted that Edwin AI, which was launched a year ago, has played a significant role in enhancing revenue growth and broadening platform adoption. Commenting on the appointment, Christina Kosmowski, Chief Executive Officer at LogicMonitor, said, "Garth's appointment represents our continued, strategic investment in product leadership at the intersection of Agentic AIOps and hybrid observability. Garth brings the pedigree and operational excellence to accelerate and execute our roadmap and unlock more value for our customers and partners—our goal is to reduce unplanned downtime by 50 per cent and empower customers with foresight, not hindsight." Garth Fort's previous roles include serving as Senior Vice President and Chief Product Officer at Splunk. During his tenure, he led Splunk's transition to the cloud, which is now a USD $4.2 billion business. The company highlighted his experience in shaping software and cloud services at prominent technology firms, including Amazon Web Services and Microsoft. Fort holds a bachelor's degree from the University of North Carolina, Chapel Hill, where he was recognised as a Morehead Scholar. Garth Fort, Chief Product Officer at LogicMonitor, said, "LogicMonitor is uniquely positioned to lead the next era of AI-driven observability and IT Operations at a time of massive data centre transformation. The increased demands created by rapid adoption of AI are driving unprecedented complexity across hybrid and multi-cloud environments. I'm excited to join LogicMonitor to help build an observability platform that doesn't just monitor across physical and cloud data centres - it foresees and adapts in real time." LogicMonitor stated that its LM Envision platform is designed to enable observability across on-premises and multi-cloud environments, providing IT and business teams with operational visibility and predictability across technologies and applications. The company aims to allow teams to spend less time on troubleshooting and more time on delivering services to employees and customers. The appointment of Fort as Chief Product Officer is intended to further the company's strategy of investing in product development and driving its growth in AI-driven software for IT operations. The company noted that Edwin AI's adoption is contributing to its financial results by supporting platform expansion and accelerating revenue from enterprise customers. LogicMonitor's focus remains on reducing unplanned downtime for its customers, addressing the challenges brought about by increased data centre complexity and the hybrid nature of modern IT environments. The company attributed part of its ongoing growth to the deployment of its AI-powered solutions, which it claims provide clients with improved foresight into IT operations. The company indicated that having experienced leadership, such as Garth Fort, is central to advancing its product roadmap and meeting the evolving demands of customers seeking operational efficiency amid growing technological complexity.
Yahoo
2 days ago
- Business
- Yahoo
CSCO Q1 Earnings Call: AI Demand and New Partnerships Drive Strategic Shift
Networking technology giant Cisco (NASDAQ:CSCO) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 11.4% year on year to $14.15 billion. Its non-GAAP EPS of $0.96 per share was 4.6% above analysts' consensus estimates. Is now the time to buy CSCO? Find out in our full research report (it's free). Revenue: $14.15 billion (11.4% year-on-year growth) Adjusted EPS: $0.96 vs analyst estimates of $0.92 (4.6% beat) Revenue Guidance for Q2 CY2025 is $14.6 billion at the midpoint, roughly in line with what analysts were expecting Management raised its full-year Adjusted EPS guidance to $3.78 at the midpoint, a 1.9% increase Operating Margin: 22.6%, up from 17.2% in the same quarter last year Annual Recurring Revenue: $30.6 billion at quarter end, up 4.8% year on year Billings: $14.26 billion at quarter end, up 5.5% year on year Market Capitalization: $254.9 billion Cisco's first quarter highlighted significant momentum in its AI and networking businesses, fueled by double-digit growth in product orders and strong performance in key segments like enterprise routing and campus switching. CEO Chuck Robbins emphasized the impact of accelerated product innovation and the company's ability to deliver large-scale AI infrastructure, noting, 'We received AI infrastructure orders from web-scale customers in excess of $600 million in Q1, bringing our year-to-date total to well over $1 billion.' Management credited the quarter's growth to robust demand across web-scale, enterprise, and public sector customers, as well as ongoing adoption of new products like WiFi 7 and industrial IoT offerings. Additionally, the integration of Splunk contributed to security segment growth, with notable wins in the financial services sector. Looking ahead, Cisco's leadership pointed to a multi-year runway for AI-related demand and expansion into sovereign cloud opportunities as key drivers of its forward guidance. Robbins outlined the importance of partnerships, such as the recent collaboration with NVIDIA and new initiatives in the Middle East, stating, 'We believe the AI opportunity for us is a strong one…we play across the full stack.' CFO Scott Herren highlighted ongoing tariff uncertainty and the impact of supply chain agility on gross margins, while also noting that the ramp-up of enterprise AI deployments and new product launches are expected to support revenue and margin performance. Management's outlook is shaped by expectations of continued demand for AI infrastructure, heightened security needs, and the transition to more recurring, software-driven revenue streams. Cisco's first quarter results were shaped by heightened demand for AI infrastructure, progress in security and software, and the continued shift toward recurring revenue. Management also discussed organizational changes and new strategic partnerships. AI infrastructure order momentum: Cisco surpassed its annual AI order target early, with over $600 million in web-scale AI infrastructure orders during the quarter. Management attributed this to strong demand from large data center customers and emphasized that these orders are non-linear, depending on customer deployment schedules and Cisco's delivery capacity. Security segment acceleration: The integration of Splunk drove high double-digit growth in security orders, highlighted by a major multi-year deal with a financial services customer. Cisco's new security products, including Secure Access, XDR, and Hypershield, collectively added over 370 new customers, with many bundling security directly into network hardware. Recurring revenue focus: The company reported steady gains in annual recurring revenue and product ARR, with subscription revenue now comprising more than half of total revenue. This ongoing transition to software and services is intended to improve business predictability and resilience. Product innovation pipeline: Cisco announced several advancements, including the launch of a quantum network prototype and new AI-driven security solutions. The company also highlighted its partnership with NVIDIA to create unified network architectures for AI workloads, aiming to simplify deployment and enhance security for enterprise customers. Leadership changes: CFO Scott Herren announced his retirement, with Chief Strategy Officer Mark Patterson set to take over. Jeetu Patel was promoted to President and Chief Product Officer, reflecting a renewed focus on product strategy and accelerated innovation. Additionally, Kevin Weil, Chief Product Officer of OpenAI, joined the board of directors. Cisco expects future performance to be driven by sustained AI infrastructure investment, an expanding partner ecosystem, and increased focus on software-based solutions. Ongoing AI demand: Management believes that the global expansion of AI, including sovereign cloud initiatives and enterprise AI deployments, will provide a multi-year growth opportunity. Cisco anticipates demand from both web-scale and enterprise customers as AI applications require advanced networking and security. Supply chain and tariff management: The company faces ongoing uncertainty around tariffs, particularly after the July 9 pause ends. Cisco's ability to leverage its supply chain scale and flexibility is expected to mitigate some cost pressures, though management cautions that tariffs could impact gross margins in the near term. Recurring revenue and new solutions: Cisco is prioritizing the growth of its subscription-based offerings and accelerating the rollout of new products, such as the WiFi 7 portfolio and AI-powered security tools. These initiatives are intended to drive more predictable revenue streams and capitalize on evolving customer needs. Looking forward, the StockStory team will be monitoring (1) the pace at which AI infrastructure orders convert into revenue, (2) execution on new partnerships and sovereign cloud deals such as the HUMAIN initiative, and (3) the rollout and adoption rates for Cisco's latest security and networking products. Progress on recurring revenue growth and the impact of tariff changes on margins will also be important indicators to watch. Cisco currently trades at a forward P/E ratio of 16.5×. At this valuation, is it a buy or sell post earnings? The answer lies in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India Gazette
21-05-2025
- Business
- India Gazette
Security teams overwhelmed by tool maintenance, wary of AI amid rising breaches: Splunk report
New Delhi [India] May 21 (ANI): A recent report from Splunk revealed that security teams are overwhelmed by tool maintenance, leaving them little time to focus on actual threats. The 'State of Security 2025' report highlights the challenges security organisations face in today's complex threat landscape. The report revealed that 46% of respondents spend more time maintaining security tools than defending against threats, while 66% of organisations experienced a data breach in the past year. Only 11% of respondents have complete confidence in AI for critical security tasks, added the report. 'Human oversight remains central to effective cybersecurity, and AI is used to enhance human capabilities to help where it truly matters: defending the organisation,' said Michael Fanning, CISO at Splunk. The report pointed to significant operational inefficiencies. For example, a majority (59%) cite tool maintenance as a primary drain, and 78% report their security tools are dispersed and disconnected, creating considerable challenges for 69%. The above leads to wasted investigation time due to data management gaps (57%), alert fatigue (59%), and an excess of false positives (55%). However, the report believes that Security Operations Centres (SOC) analysts are facing immense pressure. Over half report being overworked, and a similar number have considered leaving cybersecurity due to stress. While wary of complete AI reliance, organisations recognise its potential. 59% of respondents have seen efficiency gains with AI, and 56% have prioritised its application to security workflows. AI is currently used for threat intelligence analysis (33%), querying security data (31%), and policy creation (29%), according to the report. The report highlighted the value of a unified security approach. Notably, 78% of respondents who share data with observability teams reported faster incident detection, and 66% noted quicker remediation. The 'State of Security 2025' report emphasised the need for organisations to adopt connected security operations, integrating human expertise with AI advancements to combat the evolving threat landscape effectively. (ANI)
Yahoo
21-05-2025
- Business
- Yahoo
AI Security Pivot Places Cisco Systems Stock (CSCO) in Pole Position
Cisco Systems (CSCO) shares remained relatively flat despite the company surpassing expectations in its latest quarterly results published last week. The technology leader delivered both revenue and earnings beats, driven by strong performance in its security and observability segments. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter These results underscore Cisco's continued transition from legacy networking hardware to a more diversified, higher-margin software and services portfolio. A strategic pivot toward AI-powered security solutions seems to be paying off, although the market has yet to realize it. With an expanding product mix, upwardly revised guidance, and multiple analyst upgrades, I maintain a long-term bullish outlook on Cisco. Cisco's Security segment has emerged as a key growth driver following its strategic shift toward AI-powered cybersecurity solutions. Revenue in the segment surged 54% year-over-year to $2 billion last quarter. Historically challenged by competition from pure-play cybersecurity firms like CrowdStrike (CRWD), Cisco has significantly strengthened its position through its $28 billion acquisition of Splunk. This acquisition has accelerated growth and enabled the launch of new products such as Hypershield and AI Defense—AI-driven solutions designed to secure data centers and cloud environments. Notably, both products have already been adopted by Fortune 100 companies. Splunk has also revitalized Cisco's Observability segment, which saw a 24% revenue increase last quarter. Before the acquisition, Cisco's organic observability business grew by 3–4% annually. Integrating Splunk's capabilities has created a more compelling offering for enterprises deploying AI workloads, delivering enhanced visibility and intelligence. Together, the Security and Observability segments are now central to Cisco's broader AI transformation strategy. For organizations seeking comprehensive visibility, protection, and data insight, Cisco is positioning itself as a full-spectrum solution provider. Reflecting this momentum, the company expects to generate ~$56.6 billion next quarter. That said, Cisco's $28 billion acquisition of Splunk was a significant investment, and while initial results are encouraging, the real test lies ahead as integration efforts deepen. Ideally, long-term growth is driven by organic innovation rather than large-scale acquisitions. Cisco's track record in this area has been mixed—prior acquisitions such as AppDynamics and WebEx have delivered uneven outcomes over time. Competitive pressure also remains a key concern. In the security space, Cisco faces stiff competition from specialized vendors like Palo Alto Networks (PANW), CrowdStrike (CRWD), and Zscaler (ZS). Meanwhile, in the networking segment—still responsible for roughly half of Cisco's total revenues—rivals such as Hewlett-Packard Enterprise (HPE) and Nokia continue to advance. Notably, HPE's proposed acquisition of Juniper Networks, which would significantly bolster its networking capabilities, is under scrutiny from the U.S. Department of Justice over potential anti-competitive concerns. While a delay or failure of the deal could work in Cisco's favor, the outcome could influence competitive dynamics in the sector. Cisco also relies heavily on hardware sales, exposing it to supply chain volatility and potential tariff-related margin pressures. Although growth in its Security and Observability segments is promising, these businesses are still relatively small in scale. Sustained momentum will be needed for Cisco to prove that its shift toward software and AI-driven solutions can offset the slowdown in its core networking operations. On Wall Street, CSCO earns a Moderate Buy consensus rating based on nine Buy, seven Hold, and zero Sell ratings in the past three months. CSCO's average stock price target of $70.77 implies ~11% upside potential over the next 12 months. Analyst Amit Daryanani from Evercore ISI maintained his Outperform rating on CSCO with a price target of $72. He sees Cisco as being positioned for continued growth in FY2026, driven by AI infrastructure demand and cloud deployments. Notably, he notes that Cisco AI infrastructure orders doubled to $600 million compared to the previous quarter, putting the company ahead of its $1 billion annual target. William Blair analyst Jason Ader takes a more reserved view on Cisco Systems, issuing a Hold rating with a $66 price target. Despite the company's recent strong earnings, Ader remains cautious, pointing to 'intense competition,' which he believes could limit Cisco's earnings growth to the 'mid-single-digit range.' He also warned of macroeconomic risks, including 'increased tariff rates and possible changes in semiconductor export rules,' which could further weigh on the company's long-term outlook. Cisco's quarterly results suggest that the integration of Splunk is progressing well, supporting the company's gradual shift away from lower-margin legacy hardware toward higher-margin software and services. While its core networking business remains a reliable revenue driver, Cisco is clearly evolving, particularly in the areas of observability and security, positioning itself to benefit from broader technology trends such as AI, cloud infrastructure, and cybersecurity. However, several execution risks remain. The full integration of Splunk is still underway, and Cisco faces intense competition from pure-play cybersecurity firms and established networking rivals. Additionally, external pressures such as rising tariffs could weigh on margins. Cisco's reliance on acquisitions for growth also raises concerns, especially given that conventional metrics do not consider the stock undervalued. Analyst sentiment remains mixed, reflecting this balance of opportunity and risk. For investors seeking diversified exposure to key technology segments with relatively lower volatility, Cisco may offer a more stable option, backed by consistent cash flow generation and a track record of returning capital to shareholders. Disclaimer & DisclosureReport an Issue
Yahoo
21-05-2025
- Business
- Yahoo
Bitwarden Now Offered Through GuidePoint Security
This new collaboration offers GuidePoint Security customers access to Bitwarden Password Manager, empowering organizations with scalable and secure enterprise credential protection SANTA BARBARA, Calif., May 21, 2025--(BUSINESS WIRE)--Bitwarden, the trusted leader in password, passkey, and secrets management, today announced a strategic reseller partnership with GuidePoint Security, a leading cybersecurity solutions provider. Through this partnership, GuidePoint's customers will have access to enterprise password management capabilities designed to reduce credential risk and strengthen identity protection across complex organizational environments. Enabling trusted credential security at enterprise scale Bitwarden supports more than 50,000 business customers and over 10 million users across 180 countries. The Bitwarden Password Manager is built on a trusted open source architecture with a zero-knowledge encryption model and enables multiple deployment options, including cloud and self-hosted environments. Customers using GuidePoint Security services can integrate Bitwarden into existing identity workflows to help manage and protect credentials at scale. Recent product updates include Access Intelligence and phishing protection features that provide IT administrators with visibility into at-risk credentials and phishing threats. Additional integrations include support for Microsoft Sentinel, Splunk, and multiple identity providers (IdPs), such as Okta and Microsoft Entra ID, via SAML 2.0 and OIDC. These features enable security teams to monitor credential health, guide remediation of at-risk credentials, and reduce exposure to common attack vectors like phishing and credential reuse. Supporting enterprise cybersecurity strategies through partnership Enterprise password management continues to play a critical role in reducing credential risks and supporting broader identity and access initiatives. "Organizations today are under growing pressure to strengthen credential management habits, reduce the risk of human error, and align access practices with evolving security demands," said Jon Maurer, Channel Sales Director, Bitwarden. "This partnership helps GuidePoint Security customers address those challenges directly by enabling visibility into credential risks, login behavior, and policy adherence across the enterprise while reinforcing secure authentication workflows." "Credential-related threats continue to challenge security teams, especially across complex IT environments and a growing number of access points," said Justin Iwaniszyn, Director, New and Emerging Alliances at GuidePoint Security. "As attackers increasingly exploit password reuse, phishing, and weak credential controls to breach critical systems, organizations need adaptable solutions. Our collaboration with Bitwarden helps customers reduce risk, improve authentication practices, and advance long-term security strategies." For more information about Bitwarden, please visit: About Bitwarden: Bitwarden equips enterprises and individuals with the power to securely manage and share information online with trusted open source security solutions. With a password manager for everyone, users can easily manage their entire online identity anywhere. Bitwarden Secrets Manager and enhance developer secrets security and streamline passkey development for end users and workforce authentication. Founded in 2016, Bitwarden serves over 50,000 businesses and more than 10 million users worldwide across 180 countries in 50+ languages. The company is headquartered in Santa Barbara, California. Learn more at View source version on Contacts Mike StolyarDirector of Communicationsmstolyar@
