International Business Machines Corporation IBM recently announced a five-year contract with the U.S. Agency for International Development (“USAID”), marking a crucial step in enhancing cybersecurity across the Europe and Eurasia (E&E) region. The contract, initially funded at $26 million, aims to fortify USAID's Cybersecurity Protection and Response program.
The initiative is part of USAID's broader effort to promote inclusive growth and democratic societies through secure and robust digital ecosystems. Per this contract, IBM's multidisciplinary team will provide comprehensive support, including program management, incident response and capacity building to help combat the increasing threat of cyberattacks in the E&E region.
In today’s interconnected world, rapid technological advancements provide significant societal benefits, but they also introduce heightened security risks. Vulnerable infrastructures can leave governments and critical sectors susceptible to cyberattacks.
By leveraging IBM's global experience and leadership in cybersecurity services, USAID expects to enhance its ability to respond swiftly and effectively to global challenges. It is crucial for USAID host countries to incorporate cyber threat mitigation and capacity-building into their program design and implementation to get the full benefit of IT modernization efforts.
IBM operates as one of the world's most extensive security research, development and delivery organizations, monitoring more than 150 billion security events daily. With a presence in more than 130 countries, the company is well-positioned to support USAID’s ambitious goals of improving development and humanitarian assistance outcomes through digital technology.
Shares of IBM have gained 44.4% over the past year compared with the industry’s growth of 31.8%.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
IBM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry have been discussed below.
Ooma, Inc. OOMA offers cloud-based communications solutions, smart security and other connected services. The company’s smart software-as-a-service and unified-communications-as-a-service platforms serve as a hub for seamless communications and networking infrastructure applications. It currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
It delivered a trailing four-quarter average earnings surprise of 8.90%. In the last reported quarter, Ooma delivered an earnings surprise of 27.27%.
Telephone and Data Systems, Inc. TDS, sporting a Zacks Rank of 1, provides wireless products and services, cable and wireline broadband, TV and voice services to approximately 6 million customers in Chicago.
In the last reported quarter, TDS delivered an earnings surprise of 145.45%.
Motorola Solutions, Inc. MSI provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola holds a Zacks Rank #2 (Buy).
It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>International Business Machines Corporation (IBM) : Free Stock Analysis Report
Telephone and Data Systems, Inc. (TDS) : Free Stock Analysis Report
Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report
Ooma, Inc. (OOMA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
