U.S. Markets close in 6 hrs 18 mins

  • S&P 500

    4,013.80
    -10.09 (-0.25%)
     

  • Dow 30

    32,139.60
    -57.06 (-0.18%)
     

  • Nasdaq

    11,767.24
    -37.76 (-0.32%)
     

  • Russell 2000

    1,792.67
    +53.29 (+3.06%)
     

  • Crude Oil

    110.25
    -0.24 (-0.22%)
     

  • Gold

    1,804.40
    -3.80 (-0.21%)
     

  • Silver

    21.30
    +0.29 (+1.40%)
     

  • EUR/USD

    1.0428
    +0.0011 (+0.1043%)
     

  • 10-Yr Bond

    2.8970
    -0.0380 (-1.29%)
     

  • Vix

    29.11
    -2.66 (-8.37%)
     

  • GBP/USD

    1.2256
    -0.0007 (-0.0551%)
     

  • USD/JPY

    129.2130
    +0.0280 (+0.0217%)
     

  • BTC-USD

    29,830.42
    -349.26 (-1.16%)
     

  • CMC Crypto 200

    667.05
    +424.37 (+174.87%)
     

  • FTSE 100

    7,434.65
    +16.50 (+0.22%)
     

  • Nikkei 225

    26,547.05
    +119.40 (+0.45%)
     

TD SYNNEX (SNX) Inks Deal With Zscaler, Expands Portfolio

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • SNX
  • ZS
  • PANW
  • TLS

TD SYNNEX’s SNX wholly owned subsidiary, Tech Data India recently entered into a partnership agreement with the global cloud security leader, Zscaler ZS. Per the deal, TD SYNNEX’s business partners and organizations in India will be able to purchase security solutions from Zscaler’s leading security platform, Zero Trust Exchange, directly from Tech Data India.

Enhances Security Portfolio

The deal is likely to boost TD SYNNEX’s security portfolio and offer more agility to its business partners as their network and security needs continue to evolve. This can also enhance the available options for speeding up their migration journey to zero trust architecture.

Zscaler’s Zero Trust Exchange is a purpose-built cloud platform that reduces risks in digital businesses by ensuring a safer digital transformation than traditional virtual private networks and firewalls. It also allows direct, secure connections based on the trust built upon users’ identity and contexts such as their location, device’s security posture, the content being exchanged and the application being requested. Currently, the platform is operating across 150 data centers worldwide.

The latest partnership between TD SYNNEX’s Tech Data India and Zscaler reflects the reliability of the Zero Trust Exchange platform. This move will not only raise Zscaler’s global reach but also expand its channel partnership capabilities.

TD SYNNEX Corp. Price and EPS Surprise

TD SYNNEX Corp. Price and EPS Surprise
TD SYNNEX Corp. Price and EPS Surprise

TD SYNNEX Corp. price-eps-surprise | TD SYNNEX Corp. Quote

Continues to Win Distribution Deals

It is remarkable that TD SYNNEX has been benefiting from consecutive deal wins within few months of its formation, following the merger of TD SYNNEX and Tech Data Corporation in the first week of September, 2021.

The merged company won its first distribution contract from Palo Alto Networks PANW in September. Per the agreement, TD SYNNEX will distribute Palo Alto Networks’ cybersecurity solutions to the India-& SAARC-based customers.

In the same month, SNX signed an agreement with a leading Israeli software provider, Indeni, to leverage automated network security solutions.

In October, it signed a strategic distribution agreement with the network security and automation solutions provider, EfficientIP, which provided EfficientIP’s DDI and DNS Security solutions to its partner community of traditional value-added resellers, managed service providers and system integrators. The deal expanded the company’s technology portfolio and reinforced EfficientIP’s position in the DDI market.

Last month, TD SYNNEX’s wholly owned subsidiary, DLT Solutions entered into a distribution agreement with the leading provider of cyber, cloud and enterprise security solutions, Telos Corporation TLS. Per the agreement, the Telos solutions’ portfolio will be added to DLT Solutions’ channel ecosystem and selective federal-contract vehicles.

TD SYNNEX continues to look ahead to boost its organic growth with more strategic acquisitions and deal wins that complement and expand its existing capabilities. The merger of TD SYNNEX with Tech Data is expected to be significantly accretive to the former’s bottom line and bring the solid synergy benefits to its top line in the near term.

Currently, SNX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Palo Alto Networks carries a Zacks Rank #3, while Zscaler has a Zacks Rank #4 (Sell) and Telos carries a Zacks Rank #5 (Strong Sell).


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

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

Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report

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

Telos Corporation (TLS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Recommended Stories

  • Warren Buffett Spends Big as Stock Market Sells Off

    Warren Buffett’s Berkshire Hathaway has used the recent markets slump as an opportunity to ramp up spending on stocks.

  • The Nasdaq Is Down More Than 25% This Year. Time to Buy These 5 Top Stocks

    With the Nasdaq Composite index down roughly 27% this year as of this writing, several growth stocks have also seen significant correction. Let's discuss five such top stocks that look very attractive right now. The stock's market capitalization, which crossed $150 billion days after its listing, has fallen to $22 billion.

  • Morgan Stanley Says These 3 Stocks Could Surge Over 60% From Current Levels

    Investors are facing a confusing environment, with long- and short-term signals sending different messages. Inflation remains stubbornly high, above an 8% annualized rate, and the Federal Reserve has made it clear that additional interest rate hikes are in the offing. Stocks are well off their highs, and despite last Friday's gains, the S&P 500 and the Nasdaq posted their sixth consecutive weekly loss. But there are positives, too. The 1Q22 earnings season gave an upbeat vibe, as more than three

  • Ethereum co-founder says every ‘average smallholder’ impacted by Terra’s stablecoin crash should be made whole, cites FDIC’s $250,000 as ‘precedent’

    "The obvious precedent is FDIC insurance (up to $250,000 per person)," Vitalik Buterin tweeted, adding that he “strongly supports” helping the “average UST smallholder."

  • Stocks on Sale: Is AMD a Buy?

    In a tumultuous market, it's more important than ever to invest in great companies led by outstanding managers. One such example is Advanced Micro Devices (NASDAQ: AMD). If you had bought $10,000 worth of AMD shares when Lisa Su became chief executive officer in 2014, your investment would be worth more than $225,000 today.

  • 2 Biotech Stocks That Could Go Parabolic

    Biotech stocks have taken a beating to start the year, with the S&P Biotech Industry Index down more than 49% so far. There are several reasons a biotech stock could go parabolic -- that is, have its shares see a sharp rise in a short period. The company could be the buyout target of a merger deal with a larger pharmaceutical company.

  • CIBC Asset Management announces changes to ETF line-up

    CIBC (TSX: CM) (NYSE: CM) 2– CIBC Asset Management Inc. (CAMI), as manager of the CIBC Exchange Traded Funds, announced today that it will terminate the CIBC Multifactor Canadian Equity ETF (TSX: CMCE), the CIBC Multifactor U.S. Equity ETF (TSX: CMUE) (common units) and (TSX: CMUE.F) (hedged units) (collectively, the "CIBC Strategic Beta ETFs") on or about July 29, 2022 (the termination date).

  • Twitter Stock Extends Slide As Elon Musk Reveals Spat With Legal Team, Adding to Takeover Doubts

    "Twitter legal just called to complain that I violated their (non-disclosure agreement)," Musk Tweeted Saturday.

  • Tech Wreck 2022: 3 Stocks Down as Much as 90% That Are Screaming Buys

    Regardless of whether you're relatively new to the stock market or have been putting your money to work on Wall Street for decades, this has been a challenging year. The sell-off has been even more pronounced in the growth-focused Nasdaq Composite, where the peak-to-trough move since hitting its all-time high in November was nearly 30% last week. While there are a number of reasons behind this sell-off, tech stocks are shouldering a lot of the blame.

  • SoFi Technologies Is Primed for a Rebound

    A fundamental analyst at Piper Sandler raised their rating on SoFi Technologies to "overweight" Monday with an upside price target of $10. In the daily bar chart of SOFI, below, we can see a big decline since November. The daily On-Balance-Volume (OBV) line has worked lower into May but now we might start to see a reversal.

  • Texas 9-Year-Old Brings a Whip to a Black Family’s Porch to Demand Their Daughter Emerge; Boy’s Father Fumbles with Gun When Confronted, Nearly Shoots His Own Child

    In a Dallas suburb last week, a whip-cracking 9-year-old white boy came to the front porch of one of his neighbors and banged on their […]

  • Gloomy Goldman offers 20 ‘safety’ stocks with valuations below the previous 2 bear markets

    It’s tight quarters in Wall Street’s bear sleuth these days. Goldman Sachs just downgraded their 2022 U.S. growth forecast (to 2.4% from 2.6%) and 2023 (to 1.6% from 2.2%), as senior chairman Lloyd Blankfein warned of “very, very high” risks for a U.S. recession. Also one of the most bullish banks on Wall Street headed into this year, Goldman cut its end-2022 S&P 500 target to 4,300.

  • Stock Market Bottom Or Bull Trap? The Wyckoff Method Reveals Insights

    Let’s adopt the Wyckoff method to determine if the strong rebound on last Friday marked the stock market bottom or a bull trap to suck in more retailers to catch the falling knife.

  • Upstart Investors Are Learning a Lesson LendingClub Investors Learned Years Ago

    Being a "'platform" sounds well and good, but it's hard for fintechs involved in lending to escape the economics of banks.

  • When your neighbor asks: 'Has the stock market bottomed yet?'

    The bulls are beginning to stalk the stock market carnage. Here's what to watch in the markets on Monday, May 16, 2022.

  • Can This 1 Thing Hurt Vaxart?

    Vaxart (NASDAQ: VXRT) has been involved in the coronavirus vaccine race since the beginning. All of this means there is one big problem for Vaxart right now. Vaxart's biggest problem is the time it's taking the company to bring its candidate through development to commercialization.

  • Warren Buffett's Cost Basis on These 4 Stocks Is Shockingly Low

    Over the past six decades, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett has demonstrated that he knows a thing or two about investing. Since taking Berkshire's reins in 1965, he's created more than $680 billion in shareholder value and generated an average annual return -- I repeat, average annual return -- of 20.1% for his company's stock. While there are a number of reasons for Buffett's ongoing success, such as portfolio concentration and his love of dividend stocks, arguably the biggest key to the Oracle of Omaha's outperformance is his willingness to hold investments for long periods.

  • Cathie Wood’s 2022 Portfolio: 10 Small-Cap Stock Picks

    In this article, we discuss the 10 small-cap stock picks of Cathie Wood’s 2022 portfolio. If you want to skip our detailed analysis of Wood’s hedge fund performance, stock selection and history, go directly to Cathie Wood’s 2022 Portfolio: 5 Small-Cap Stock Picks. Cathie Wood is the brains behind ARK Investment Management, a Florida-based hedge […]

  • Is it Still Safe to Invest in Amazon (AMZN)?

    Miller Value Partners, an investment management firm, published its “Opportunity Equity” first quarter 2022 investor letter – a copy of which can be downloaded here. Amidst the challenges, Miller Opportunity Equity’s net fees declined 3.57% in the quarter, outperforming its benchmark, the S&P 500’s -4.60% return. The Strategy’s long-term performance remains strong. Since inception annualized returns […]

  • Here's What We Like About Shell's (LON:SHEL) Upcoming Dividend

    It looks like Shell plc ( LON:SHEL ) is about to go ex-dividend in the next 3 days. Typically, the ex-dividend date is...