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TD SYNNEX (SNX) New Brand and BIOkey International Team Up

Zacks Equity Research
·4-min read

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.

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TD SYNNEX Corp. Price and Consensus

 

TD SYNNEX Corp. Price and Consensus
TD SYNNEX Corp. Price and Consensus

TD SYNNEX Corp. price-consensus-chart | TD SYNNEX Corp. Quote

 

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.

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TD SYNNEX Corp. (SNX) : Free Stock Analysis Report

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Zscaler, Inc. (ZS) : Free Stock Analysis Report

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Zacks Investment Research