Keysight Technologies, Inc. (KEYS - Free Report) recently expanded its KeysightCare program to provide its expanding clientele with faster and reliable access to technical support for test and measurement expertise.
KeysightCare aids customers with end-to-end scalable support model solution loaded with robust test and measurement know-how to reduce time-to-market and enhance efficiency in a cost-effective manner.
With KeysightCare, companies involved in design and development of electronic products can reduce costs and mitigate delays pertaining to test equipment configuration, maintenance or training difficulties.
The company has also expanded KeysightCare portfolio with KeysightCare Technical Support offering.
The quick response in real time from a live technical support expert and seamless access to technical expertise utilizing the KeysightCare portal and knowledge center 24x7 helps customers in mitigating risks related to the project and reduce time to market.
These initiatives to strengthen customer support is anticipated to bolster adoption of KeysightCare offerings, which in turn, will drive the top line in the quarters ahead.
Momentum in Software Offerings Augurs Well
Keysight is well poised to gain from incremental adoption of latest support solutions, including Keysight Care, which is expected to fuel gross margin expansion in the days ahead. Moreover, incremental adoption of the company’s latest innovative PathWave Test 2021 software holds promise.
Also, robust growth in Software and services revenues, which represented more than 30% of total revenues in third-quarter fiscal 2020, is driving Keysight’s business model, bolstering recurring revenue growth and leading to expansion in gross margins.
Moreover, during the fiscal third quarter, Keysight concluded the acquisition of Eggplant from The Carlyle Group with an aim to boost software test automation capabilities.
The company is benefiting from accelerated 5G commercial deployment, which is leading to improvement in orders from 5G device and design developers. Moreover, expansion of investments in O-RAN (or Open Radio Access Network) and virtualization technologies augurs well.
Increasing investments in 5G infrastructure is fueling demand of its testing and emulation solutions. Moreover, momentum in semiconductor measurement solutions driven by allegiance of semiconductor companies to develop chips on next-generation process technologies bodes well.
However, the coronavirus outbreak led global supply chain disruptions and macroeconomic weakness in aerospace and defense vertical, and Huawei related headwinds are anticipated to weigh on Keysight’s near-term prospects.
Zacks Rank & Other Stocks to Consider
Currently, Keysight carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are salesforce.com inc. (CRM - Free Report) , Synaptics Incorporated (SYNA - Free Report) , and Blackbaud, Inc. (BLKB - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for salesforce, Synaptics and Blackbaud is currently pegged at 18%, 10% and 7.6%, respectively.
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