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SYNNEX Corporation SNX recently announced its collaboration with Proofpoint PFPT, under which the former will offer the latter’s cybersecurity solutions through its reseller partners. The newly announced deal will expand SYNNEX’s security and networking portfolio.
Proofpoint offers cybersecurity services to large and mid-sized organizations worldwide via an integrated suite of cloud-based solutions. It has recently won an award for Best Email Security Solution at the 2021 SC Awards for its advanced machine learning technology — Proofpoint Threat Protection Platform — which can block threats missed by others.
The collaboration with SYNNEX is an excellent opportunity for Proofpoint to evolve further through access to new security partners and routes to market. Notably, SYNNEX has tie-ups with over 20,000 resellers based in numerous countries across North and South America, Asia-Pacific and Europe.
Through this agreement, SYNNEX’s resellers will gain access to Proofpoint’s entire cloud-based product lines and help companies worldwide counter targeted threats, protect their data, and keep their users safe from cybercrimes. The deal will help to shield users on every channel including email, web, cloud, social media, and mobile messaging.
SYNNEX Corporation Price and Consensus
SYNNEX Corporation price-consensus-chart | SYNNEX Corporation Quote
Founded in 1980, SYNNEX is a Fortune 200 company, which is specialized in providing comprehensive logistics, integration services, and technology solutions to its partners for enhancing their customer engagement strategies. It additionally offers financial incentives and assistance with renewal automation. Thus, collaborating with one of the best cybersecurity companies will help it extend its global footprint via the extension of its security portfolio.
Notably, cybersecurity control failures have emerged as the highest cited internal risk across all geographic regions and most industries in the first quarter of 2021, according to the latest Gartner’s Emerging Risks Monitor Report. The hasty implementation of remote working due to the pandemic has made the executives concerned. SYNNEX with Proofpoint’s people-centric approach to cybersecurity will be able to avert high-security risks.
Zacks Rank & Other Stocks to Consider
SYNNEX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector include Intuit INTU and Zoom Video Communications ZM, both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Intuit and Zoom is currently pegged at 14.7% and 15.6%, respectively.
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