TD SYNNEX
’s
SNX
government solutions aggregator, TD SYNNEX Public Sector, recently inked a partnership with BIOkey International to help introduce BIOkey’s PortalGuard identity and access management (IAM) solution, featuring Identity-Bound Biometrics (IBB) to federal, state and local organizations, agencies and contractors.
BIOkey PortalGuard platform is a single, unified IAM powered by IBB that provides cutting-edge solutions to a range of use cases and business initiatives, such as multi-factor authentication, single sign-on, and self-service password rese. TD SYNNEX Public Sector will distribute this cost-effective secure solution to its group of government resellers and system integrators in the U.S. The provision of this secure IBB solution is likely to enhance the buying experience of U.S. Department of Defense agencies, federal government contractors, federal civilian and county government departments.
The latest deal intends to meet the growing demand for secure cybersecurity solutions among the government customers amid the ongoing remote and online working trend. This is likely to broaden BIOkey’s government customer base while they enjoy a first-time exposure to IAM solutions.
TD SYNNEX Public Sector was launched this October as a unified, purpose-driven brand that combines the strengths and decades of dedicated service to the U.S. public sector of three successful organizations – DLT Solutions, Tech Data Public Sector Solutions and SYNNEX GOVSolv.
TD SYNNEX continues to witness strong demand for its technology products and services. A steady IT spending environment, backed by rapid digital transformations, is its upside. During third-quarter fiscal 2022, the company’s revenues jumped 194.9% year over year to $15.36 billion. This was driven by the inclusion of revenues from 2021’s merger of Tech Data Corporation.
However, TD SYNNEX’s near-term growth prospects are likely to be hurt as organizations push back their investments in big and expensive technology products on growing global slowdown concerns amid the present macroeconomic challenges and geopolitical tensions. Persistent inflationary pressure resulting to a substantial increase in component costs and wage is anticipated to hurt the company’s profitability in the next few quarters.
Zacks Rank & Key Picks
TD SYNNEX currently carries a Zacks Rank #4 (Sell). Shares of SNX have decreased 7.1% in the past year.
Some better-ranked stocks from the broader
Computer and Technology
sector are
Celestica
CLS
,
Fabrinet
FN
and
Zscaler
ZS
. While Celestica sports a Zacks Rank #1 (Strong Buy), Fabrinet and Zscaler each carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
The Zacks Consensus Estimate for Celestica’s fourth-quarter 2022 earnings has increased by 9 cents to 53 cents per share over the past 60 days. For 2022, earnings estimates have risen 16 cents to $1.86 per share in the past 60 days.
CLS’ earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 11.8%. Shares of the company have increased 7.9% in the past year.
The Zacks Consensus Estimate for Fabrinet’s second-quarter fiscal 2023 earnings has been revised 16 cents northward to $1.89 per share over the past 60 days. For fiscal 2023, earnings estimates have improved by 7.6% to $7.48 per share in the past 60 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters and missed the same once, the average surprise being 5.4%. Shares of the company have risen 10.7% in the past year.
The Zacks Consensus Estimate for Zscaler’s first-quarter fiscal 2023 earnings has been revised 3 cents north to 29 cents per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by a penny to $1.23 per share in the past seven days.
ZS’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 59.7% in the past year.
Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2023? From inception in 2012 through November, the
Zacks Top 10 Stocks
portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%.
Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.
Be First to New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
