MobileIron, Inc. (MOBL - Free Report) recently unveiled new features and capabilities which will secure user data by rapid threat detection and real-time response via threat intelligence, new cloud security monitoring features and Mobile Application Management (MAM).
This will aid businesses to efficiently counter the rapidly evolving cyber-attacks. Notably, the companyexpanded support for Apple’s (AAPL - Free Report) macOS, Android, and Microsoft’s (MSFT - Free Report) Windows 10 endpoints.
Over the past one month, shares of MobileIronhave gained 11.6%, substantially outperforming the industry’s rally of 3.6%.
Security & Easy Access to Mobile Data: A Key Catalyst
The growing focus on client satisfaction is increasing mobility among employees of an organization. The job requires employees to switch between client site and office which in turn leads to increased use of devices including smartphones, enabling employees to access client data on the go.
The aforementioned factors increase the risk of losing or compromising valuable client data to unsecured networks, for instance. This calls for a secure platform ensuring seamless access to client data irrespective of employee location and time, which is where MobileIron’s new solutions come handy.
According to Brian Foster, SVP of product management, MobileIron, “The latest additions to our capabilities, including expanded support for macOS are proof of our commitment to our customers as they deploy a mobile strategy for their employees, and extended workforce, resulting in a more productive enterprise.”
MobileIron appears to be benefiting from growing clout of its Mobile Application Management solution. Robust adoption of MAM solutions is expected to favor top-line growth, going ahead.
Per a Stratistics MRC report as revealed by Reuters, worldwide enterprise mobility market is envisioned to reach approximately $1225.8 billion in 2026 from $206.13 billion in 2017 at a CAGR of 21.9%.
Furthermore, per ReportsnReports estimates, the cloud security market will reach around $12.73 billion by 2022 from approximately $4.1 billion in 2017 at a CAGR of 25.5%.
Apart from the aforementioned reports, increasing IT management spending indicate strong growth prospects for MobileIron.
Zacks Rank & Key Pick
MobileIroncurrently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Cadence Design Systems, Inc. (CDNS - Free Report) , sporting a 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 Cadence is projected to be 12%.
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