BlackBerry Limited (BB - Free Report) recently announced that it has introduced CylanceGUARD — a managed detection and response solution that leverages Cylance security experts and its artificial intelligence platform for continuous threat monitoring and hunting.
The state-of-the-art solution is a subscription-based offering that validates, analyzes and automates incident engagement. Together with alert automation and advanced orchestration engine, the solution simplifies complex technologies and workflows while reducing the time it takes to act against attack proliferation.
With a holistic growth model, focusing both on organic and inorganic initiatives, the company aims to expand its market leadership in enterprise mobility. The acquisition of Cylance boosted its operations as it has provided additional cyber security capabilities with cutting-edge technology.
Further, the combination of BlackBerry Cylance’s artificial intelligence and machine learning cybersecurity capabilities with BlackBerry Spark has made its endpoint management and embedded software products more essential for businesses to generate value from the Internet of Things.
CylanceGUARD is operated by a team of prevention experts and incident responders, who leverage the BlackBerry Cylance AI Platform. BlackBerry Cylance customers can access a web portal for visibility into their security environments and get mobile warnings on iOS and Android devices.
The company intends to grow market share for BlackBerry Cylance, while improving profitability and reducing the cash burn. It is working to drive healthy revenue growth and increase market share in the industry vertical.
Moreover, BlackBerry has reiterated its outlook on non-GAAP revenue growth and non-GAAP profitability for fiscal 2020. The company expects non-GAAP revenue growth between 23% and 27% on the back of double-digit percentage increase in billings.
It anticipates non-GAAP revenues at IoT to grow 12-16% year over year, while the same for BlackBerry Cylance is likely to rise between 25% and 30%.
BlackBerry continues to invest in the right opportunities to drive long-term growth and profitability. The company’s solid product cycle coupled with impending launches of new secure communication products and services instill optimism.
Driven by increasing market traction of BlackBerry’s leading-edge solution offerings, the stock has rallied 4.6% against the industry’s decline of 18% over the past three years.
BlackBerry currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader industry are Comtech Telecommunications Corp. (CMTL - Free Report) , Ubiquiti Networks, Inc. (UBNT - Free Report) and Ericsson (ERIC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech has long-term earnings growth expectation of 5%.
Ubiquiti has long-term earnings growth expectation of 19.8%.
Ericsson is currently trading with a forward P/E of 24.5X.
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