Microsoft MSFT recently empowered OneDrive cloud storage offering with new security feature called Personal Vault. OneDrive’s Personal Vault folder is dedicated to storing important and sensitive files by providing an extra encryption measure to aid users securing their vital data.
Notably, Microsoft rolled out OneDrive to enable users seamlessly access their data from anywhere by logging into their OneDrive accounts. In a bid to avail Personal Vault service, users will require another login ID and password over OneDrive user credentials. The latest security feature is enabled by Microsoft Authenticator app on compatible devices.
Further, the two-step verification security measure provides Microsoft’s OneDrive a competitive edge in the market with enhanced security capabilities. Reportedly, comparable cloud-based user-friendly storage offerings including Alphabet’s GOOGL Google Drive, Apple’s iCloud, Dropbox, among others, presently lack additional security login feature.
Features, Availability & Pricing
Microsoft notes that the by utilizing Personal Vault, users will be logged out automatically after short duration of inactivity. Users can select the auto-lock interval according to device. This enables users to travel safely with their important documents (financial information, bills, and licenses, to name a few) on their OneDrive folder.
Moreover, OneDrive will sync the users’ Personal Vault files with a BitLocker-encrypted area on the system’s local hard drive for Windows 10 PCs.
Personal Vault service will be available on web, Windows 10 devices, and Microsoft’s apps. The service is scheduled to be initially offered across Australia, New Zealand, and Canada, with roll out to other countries slated later this year.
Microsoft also increased storage capacity for monthly subscription plan of $1.99 to 100 GB from 50 GB, which brings it at par with similar Google Drive plan. Considering a free OneDrive plan, number of files which can be stored on Personal Vault will be restricted.
Notably, Office 365 subscription already offers 1 TB of storage in OneDrive. The company announced that users can now avail extra 200 GB of storage for $1.99 per month, ranging up to additional $1 TB storage for $1.99 per month.
What Investors Should Know?
OneDrive enables users with flexible and easily adoptable storage capabilities. The latest additional security feature is anticipated to bolster adoption rate of OneDrive on the back of ongoing workspace trend of Bring Your Own Devices (BYOD) and increasing mobile/on-the-go workers. Moreover, cyber attacks on subscription or cloud based accounts have become a persistent problem of late, which is where Personal Vault feature holds promise.
Additionally, the change in plans with measures to offer additional storage and security measures is expected to drive adoption. This will consequently generate incremental revenues for Microsoft’s Productivity and Business Processes segment which contributed 33.5% to total revenues in the last reported quarter.
Microsoft Corporation Revenue (Quarterly)
Microsoft Corporation revenue-quarterly | Microsoft Corporation Quote
Notably, in the third-quarter of fiscal 2019 Microsoft’s Office Consumer products and cloud services revenues increased 8% (up 10% at cc) year over year. Office 365 Consumer subscribers came in at 34.2 million during the reported quarter. Office Commercial revenues increased 12% year over year, driven by Office 365 Commercial growth of 30%.
Zacks Rank & Key Picks
Microsoft carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the broader sector are Rosetta Stone Inc. RST and j2 Global, Inc. JCOM, each sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Rosetta Stone and j2 Global is pegged at 12.5% and 8%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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
j2 Global, Inc. (JCOM) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Rosetta Stone (RST) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research