SYNNEX Corporation (NYSE:SNX) changed 0.29% to recent value of $100.24. The stock transacted 371579 shares during most recent day however it has an average volume of 423.33K shares. It spotted trading -8.56% off 52-week high price. On the other end, the stock has been noted 39.56% away from the low price over the last 52-weeks.
On Aug. 15, 2019, CRITICALSTART, a leading provider of Managed Detection and Response services, reported a distribution agreement with SYNNEX Corporation (NYSE:SNX) a leading business process services company, to provide Managed Detection and Response (MDR) services to the distributor’s broad network of U.S. channel partners. Based on the principles to resolve every alert, provide complete transparency and drive mobile-first engagement, CRITICALSTART’s MDR business grew more than 300% last year while maintaining a 99% customer retention rate.
Through the agreement, SYNNEX Corporation and its Westcon-Comstor division work with leading technology vendors to bring solutions to market through their extensive network of channel partners while supporting them before and during the sale. This agreement is another milestone in CRITICALSTART’s ongoing strategy to rapidly expand its customer footprint across the U.S.
CRITICALSTART is an important player in the cybersecurity space, and we are pleased to help them expand their U.S. footprint, said Scott Young, Vice President, Product Management, SYNNEX Corporation. By pairing our market expertise and value-added support offerings with CRITICALSTART’s compelling solution, resellers are able to better address this important market segment.
CRITICALSTART’s MDR services are differentiated by its unique cloud-based SOAR platform that ingests and investigates all alerts until they are classified as good or normal and can be safely resolved, resulting in a 99% reduction in alerts. Customers can access and see everything that the SOC analysts see – from underlying alerts through the investigation and remediation recommendations. In addition, the company’s MOBILESOC app allows customers to communicate with SOC analysts in real-time to instantly triage and respond to security alerts from anywhere while its two-person SOCREVIEW process ensures the quality of investigations and playbooks.
SNX has a gross margin of 11.50% and an operating margin of 3.00% while its profit margin remained 1.80% for the last 12 months. Its earnings per share (EPS) expected to touch remained 6.40% for this year while earning per share for the next 5-years is expected to reach at 12.50%.
The company has 50.71M of outstanding shares and 41M shares were floated in the market. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.61% from the mean of 20 days, 5.41% from mean of 50 days SMA and performed 9.25% from mean of 200 days price. Company’s performance for the week was 4.09%, 2.23% for month and YTD performance remained 24.00%.
Jeffery Knight earned bachelor degree from College with a focus in Business Administration. He is the Senior Editor for Surveypaid.info and Financial section. He also holds an MBA from Michigan State University He has one daughter and one son. Jeffery joined the Surveypaid.info, after more than 15 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading.
Address: 44069 Wayne Street, Dowagiac, Michigan (MI) 49047, USA
Phone Number: 701-271-5710