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BlackBerry's Revised Partner Program to Aid Cylance Business

Zacks Equity Research

BlackBerry Limited BB recently communicated that it has augmented its Cylance North America Partner Program. The Canadian cybersecurity firm has been investing in the right opportunities to drive long-term growth and profitability. Focused on innovation and partner enablement, the program offers security solutions and a broad spectrum of consulting services. Its share price rose 9.1% in yesterday’s trading session to close at $4.20.

BlackBerry Cylance develops AI to deliver prevention-first, predictive security products and solutions that help organizations change their approach to endpoint security. It provides threat visibility across the enterprise to combat the most advanced cybersecurity attacks. With automated response and expert security services, the solution protects the endpoint without increasing staff workload or expenses.

The company’s industry-leading product lineup, go-to-market strategy and incremental contribution from Cylance bode well for future. BlackBerry is integrating its endpoint management and AI technologies on one platform to address the high-growth endpoint security market. Now, the enhancements to its North America Partner Program will likely enhance the speed of transaction and continue to enable partners with the resources and technical authorizations.

As a leading player in the enterprise mobility management, BlackBerry is widely recognized for productivity and security innovations. The company offers one of the most secure mobile enterprise solutions in the market through a broad portfolio of products and services. It offers an end-to-end software and services platform for the Enterprise of Things. With a holistic growth model, focusing both on organic and inorganic initiatives, BlackBerry aims to expand its market share in the enterprise mobility segment.

Blackberry Cylance offers several cybersecurity options ranging from managed services to endpoint protection. It helps to keep organizations ahead of threat actors with AI-driven security tools that provide detection, prevention and response capabilities. Solution provider partners resell BlackBerry Cylance solutions and cybersecurity services. Its managed security service provider partners enable customers to move from a detect and respond security model to achieve a state of prevention.

A few days ago, the company announced feature updates to SecuSUITE for Government and BlackBerry AtHoc that enable government agencies to safeguard sensitive data. Also, BlackBerry appointed Marjorie Dickman as its first chief government affairs and public policy officer. She is leading the company’s new Corporate Government Relations and Public Policy organization. The company announced product enhancements to the endpoint protection platform, and endpoint detection and response pillars of its BlackBerry Spark platform.

In the last reported quarter, the company’s GAAP revenues increased 18.1% year over year to $267 million. Non-GAAP revenues improved 22.8% to $280 million with strong performance of the software and service businesses.

The Zacks Consensus Estimate for its current-year earnings has been revised 33.3% upward over the past 60 days. The company topped earnings estimates twice in the trailing four quarters, delivering a positive surprise of 68.8%, on average.

Shares of BlackBerry have lost 25.9% compared with the industry’s decline of 7.2% in the past three months.

BlackBerry currently carries a Zacks Rank #2 (Buy).

A few other top-ranked stocks in the broader industry are PCTEL, Inc. PCTI, Motorola Solutions, Inc. MSI and Qualcomm Incorporated QCOM, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PCTEL surpassed earnings estimates in the trailing four quarters, the beat being 108.9%, on average.

Motorola topped earnings estimates in the trailing four quarters, the surprise being 6.6%, on average. 

Qualcomm surpassed earnings estimates in the trailing four quarters, the beat being 10%, on average.

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