MobileIron (MOBL - Free Report) recently announced that it will enable Facebook’s (FB - Free Report) Oculus for Business to provide organizations with enhanced workspace productivity.
Moreover, MobileIron’s Unified Endpoint Management (UEM) solutions, with robust management and data security capabilities, will be utilized by Facebook’s virtual reality (VR) headsets, Oculus Go and Oculus Quest. Oculus for Business will offer support to mobile device management (MDM) solutions from MobileIron.
Further, Oculus VR headsets will leverage MobileIron’s zero trust security platform to improve workspace productivity and accelerate business processes.
Per the new integration, a Device Setup app will be introduced to allow users to condition and establish numerous VR headsets at once. Also, a ‘Device Manager control center’ will aid administrators to manage headsets across various locations as well as offices with updated settings and apps deployment.
Notably, Oculus for Business aims to transform the workplace across various industries by utilizing advanced VR technology. Oculus for Business will aid businesses with large-scale deployments and is scheduled to launch in November 2019.
We believe that this is a noteworthy deal win for MobileIron and is expected to drive the top line in the days ahead.
Expanding customer base is instilling investors’ confidence in the stock. Notably, shares of MobileIron have rallied 42.7% year to date, outperforming industry’s rise of 18.2%.
Focus on Security to Boost Productivity: Key Catalyst
MobileIron UEM solutions are based on zero trust enterprise security architecture with sturdy mobile-centric approach. The company has enhanced its UEM portfolio with mobile threat detection, multi-factor authentication and zero sign-on authentication capabilities.
Further, the UEM platform enables real-time data protection, across device and network, to provide enterprises with a secure mobile workspace experience as well as boost productivity.
These factors are accelerating adoption of MobileIron’s UEM offerings. This is expected to enable the company maintain its competitive position against vendors with similar offerings, which includes Microsoft, Citrix and VMware among others.
Growth Prospects Abound
Internet companies like MobilIron are making every effort to enhance their applications portfolio by integrating AI and automated data analytics capabilities into their offerings.
Notably, Gartner estimates enterprise software spending to record highest growth of 9% in 2019 and reach $457 billion on migration to cloud and digital transformation efforts. The tally is projected to hit $507 billion in 2020, driven by increasing popularity of SaaS-based offerings over on-premise counterparts.
Per a report from Mordor Intelligence, global VR market is expected to witness a CAGR of 48.7% between 2019 and 2024.
The aforementioned projections reinforce the prospects of MobileIron in the latest deal win from Facebook’s Oculus business and buoys optimism in the stock.
Zacks Rank and Other Stocks to Consider
MobileIron carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Perficient (PRFT - Free Report) and Model N (MODN - Free Report) . Both the stocks sport 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 Model N and Perficient is currently pegged at 13% and 10.75%, respectively.
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