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TD SYNNEX (SNX) Ties Up With California's Broadcom Software
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TD SYNNEX (SNX - Free Report) recently announced that it entered into a cybersecurity aggregator partner agreement with California-based IT company Broadcom Software. Per the new agreement, SNX will enable its channel partners to improve customer experiences and be financially rewarded in return.
TD SYNNEX’s move will not only increase customer retention but also offer the partners an opportunity for growth.
The latest move will help the partner community drive key customer initiatives for Broadcom’s cybersecurity portfolio Symantec. The deal intends to benefit Symantec resellers and customers in the small and medium-sized businesses (SMB) customer segments in North America while ensuring strong margins, partner support and upsell or cross-sell opportunities.
Broadcom Software will also provide channel partner programs, sales tools, value-based pricing options and incentives to boost SMB segment growth.
Through this pact, both companies aim to strengthen customers’ reliability while accelerating their digital transformation journey.
TD SYNNEX has been benefiting from consecutive deal wins since its formation, following the merger of SYNNEX and Tech Data Corporation in the first week of September 2021.
In January, 2022, TD SYNNEX announced a new strategic collaboration with Amazon Web Services, Inc. Through a separate deal, SNX partnered with MicroStrategy, an enterprise analytics platform that delivers modern, consumer-grade experiences for every role on every device for the North American region.
In December 2021, TD SYNNEX’s wholly-owned subsidiary Tech Data India announced a partnership with Zscaler to enable its partners to purchase security solutions and services as part of the Zscaler Zero Trust Exchange platform directly from Tech Data India.
Previously in October 2021, TD SYNNEX’s legacy company Tech Data collaborated with Hewlett Packard Enterprise in the Asia Pacific to grow its distribution of HPE GreenLake cloud services in the region, enabling partners to access a robust set of cloud services that help customers tackle their most challenging business outcomes.
In the same month, TD SYNNEX’s legacy company Tech Data signed a distributor agreement with Freshworks Inc. to make the latter’s suite of products for business solutions available in the India region.
TD SYNNEX is committed to boost its organic growth profile 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 SNX’s bottom line. The deal is anticipated to contribute solid synergy benefits to SNX’s top line in the near term.
Zacks Rank & Other Key Picks
TD SYNNEX currently carries a Zacks Rank #2 (Buy). Shares of SNX have declined 15.9% in the past year.
The Zacks Consensus Estimate for Avnet's fourth-quarter fiscal 2022 earnings has been revised 55 cents northward to $1.96 per share over the past seven days. For 2022, earnings estimates have moved 20.5% north to $6.83 per share in the past seven days.
Avnet's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 21.2%. Shares of AVT have increased 6.5% in the past year.
The Zacks Consensus Estimate for Gogo's first-quarter 2022 earnings has been revised a penny downward to 13 cents per share over the past 30 days. For 2022, GOGO's earnings estimates have moved a couple of cents south to 63 cents per share in the past seven days.
Gogo's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 65%. Shares of GOGO have soared 58.9% in the past year.
The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised 4 cents upward to $2.12 per share over the past 30 days. For fiscal 2022, earnings estimates have moved 11 cents north to $8.43 per share in the past 30 days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 6%. Shares of ADI have inched up 3.5% in the past year.
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TD SYNNEX (SNX) Ties Up With California's Broadcom Software
TD SYNNEX (SNX - Free Report) recently announced that it entered into a cybersecurity aggregator partner agreement with California-based IT company Broadcom Software. Per the new agreement, SNX will enable its channel partners to improve customer experiences and be financially rewarded in return.
TD SYNNEX’s move will not only increase customer retention but also offer the partners an opportunity for growth.
The latest move will help the partner community drive key customer initiatives for Broadcom’s cybersecurity portfolio Symantec. The deal intends to benefit Symantec resellers and customers in the small and medium-sized businesses (SMB) customer segments in North America while ensuring strong margins, partner support and upsell or cross-sell opportunities.
TD SYNNEX Corp. Price and Consensus
TD SYNNEX Corp. price-consensus-chart | TD SYNNEX Corp. Quote
Broadcom Software will also provide channel partner programs, sales tools, value-based pricing options and incentives to boost SMB segment growth.
Through this pact, both companies aim to strengthen customers’ reliability while accelerating their digital transformation journey.
TD SYNNEX has been benefiting from consecutive deal wins since its formation, following the merger of SYNNEX and Tech Data Corporation in the first week of September 2021.
In January, 2022, TD SYNNEX announced a new strategic collaboration with Amazon Web Services, Inc. Through a separate deal, SNX partnered with MicroStrategy, an enterprise analytics platform that delivers modern, consumer-grade experiences for every role on every device for the North American region.
In December 2021, TD SYNNEX’s wholly-owned subsidiary Tech Data India announced a partnership with Zscaler to enable its partners to purchase security solutions and services as part of the Zscaler Zero Trust Exchange platform directly from Tech Data India.
Previously in October 2021, TD SYNNEX’s legacy company Tech Data collaborated with Hewlett Packard Enterprise in the Asia Pacific to grow its distribution of HPE GreenLake cloud services in the region, enabling partners to access a robust set of cloud services that help customers tackle their most challenging business outcomes.
In the same month, TD SYNNEX’s legacy company Tech Data signed a distributor agreement with Freshworks Inc. to make the latter’s suite of products for business solutions available in the India region.
TD SYNNEX is committed to boost its organic growth profile 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 SNX’s bottom line. The deal is anticipated to contribute solid synergy benefits to SNX’s top line in the near term.
Zacks Rank & Other Key Picks
TD SYNNEX currently carries a Zacks Rank #2 (Buy). Shares of SNX have declined 15.9% in the past year.
Some other top-ranked stocks from the broader Computer and Technology sector are Avnet (AVT - Free Report) , Gogo (GOGO - Free Report) and Analog Devices (ADI - Free Report) . While Avnet sports a Zacks Rank #1 (Strong Buy), Gogo and Analog Devices carry a Zacks Rank of 2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Avnet's fourth-quarter fiscal 2022 earnings has been revised 55 cents northward to $1.96 per share over the past seven days. For 2022, earnings estimates have moved 20.5% north to $6.83 per share in the past seven days.
Avnet's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 21.2%. Shares of AVT have increased 6.5% in the past year.
The Zacks Consensus Estimate for Gogo's first-quarter 2022 earnings has been revised a penny downward to 13 cents per share over the past 30 days. For 2022, GOGO's earnings estimates have moved a couple of cents south to 63 cents per share in the past seven days.
Gogo's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 65%. Shares of GOGO have soared 58.9% in the past year.
The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised 4 cents upward to $2.12 per share over the past 30 days. For fiscal 2022, earnings estimates have moved 11 cents north to $8.43 per share in the past 30 days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 6%. Shares of ADI have inched up 3.5% in the past year.