Lumen Technologies (LUMN) has formed a partnership with WinMagic and added the latter to its Channel Partner Program. With this partnership, WinMagic will be able to utilize Lumen’s extensive network along with its cloud and security solutions to expand its offerings to existing customers and enter new markets through Lumen’s partner program.
The Channel Partner Program will provide WinMagic with access to Lumen’s integrated portfolio of worldwide solutions, enabling it to enhance product adaptability for areas such as network services, infrastructure, and applications. The combination of Lumen’s solutions and infrastructure and WinMagic’s authentication and endpoint encryption products will provide customers with a comprehensive range of cybersecurity solutions. WinMagic’s portfolio includes the MagicEndpoint passwordless authentication solution, which offers preboot authentication, Windows login, and passwordless authentication for online services and applications.
The software’s zero-trust security design is ideal for both government and commercial environments, providing end-to-end protection while maintaining a smooth user experience. Additionally, SecureDoc endpoint encryption enables organizations to protect all their data at once, safeguarding against cyberattacks without disrupting productivity, added WinMagic.
The partnership is aimed at tapping into the growing demand for cybersecurity solutions. As per a report from Fortune Business Insights, the global cybersecurity market size is expected to grow from $172.3 billion in 2023 to $424.9 billion in 2030, at a CAGR of 13.8%. The industry is likely to benefit from increased adoption of cloud computing and rising cybersecurity attacks.
Lumen provides a range of networking and cloud and security solutions to government agencies and consumers. Their services include internet connectivity, voice and video services, and managed services. In April, the company announced that it expanded its portfolio of Secure Access Service Edge (SASE) to tackle the rising cyber threats. The company has added Versa Networks and developed Rapid Threat Defense to further boost its SASE portfolio.
Lumen currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 85% compared with the sub-industry’s decline of 16.5% in the past year.
Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox (DBX), Badger Meter (BMI), and Blackbaud (BLKB). Dropbox sports a Zacks Rank #1 (Strong Buy), whereas Badger Meter and Blackbaud hold a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%. Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 11% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share. Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 83.6% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 7.3% in the past 60 days to $3.68 per share. Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 17% in the past year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3%, and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
