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Three Long-Term Leaders Test Breakouts On Cybersecurity Partnership For Hybrid Era Of Work

Last month, ServiceNow (NOW) announced new cybersecurity integrations with Microsoft (MSFT). The expanded partnership helps organizations stay protected and resilient as the hybrid era of work-from-home and in-office workspaces becomes more prevalent and permanent.




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As a leader in workflow automation software, cloud computing and cybersecurity are integral to ServiceNow and its clients. The ServiceNow and Microsoft collaboration acknowledges that many of the pandemic-driven changes to the workforce and working environment are here to stay.

With the rise of work-from-home activity in 2020, there was an alarming increase in cybersecurity attacks aimed at major corporations, governments, and critical infrastructure. Disparate stand-alone security solutions proved ineffective at effectively detecting and responding to the increase in security threats.

New integrations with the ServiceNow Security Operations Solution Suite include Microsoft Azure Sentinel, Microsoft Threat & Vulnerability Management, Microsoft Teams, and Microsoft SharePoint.

Work-From-Home Trends, Cybersecurity Drive Long-Term Leaders

Increasing demand for cybersecurity solutions has helped ServiceNow stock join MSFT stock and Alphabet (GOOGL) on IBD Long-Term Leaders.

While cloud computing leader Amazon.com (AMZN) does not make the list, ServiceNow, Microsoft, GOOGL stock and AMZN stock are all in or near new buy zones.

ServiceNow, Microsoft and Alphabet have each also earned a spot on IBD Leaderboard.

In 2020, ServiceNow ranked No. 1 on the Fortune Future 50, which highlights companies with the best long-term growth potential. In Q1 2021, the Silicon Valley-based firm reported a 97% renewal rate among clients.

ServiceNow Stock Resets Base Count, Sets Up New Breakout

In May, ServiceNow undercut the low in its prior chart pattern to reset the base count and offer a fresh start. The stock has now built a new first-stage base showing a 565.39 buy point. ServiceNow rose over 1% Monday, closing 2% below that entry.

After lagging for several months, the relative strength line has begun to trend higher. Because it is an IBD Long-Term Leader, ServiceNow will remain on Leaderboard even during normal-looking corrections.

MSFT stock was featured on June 22 as it topped a 263.29 entry. The software, video game and cloud computing giant also rose well over 1% Monday and remains in a buy zone.

GOOGL stock is also trading within a buy zone, while AMZN stock targets a 3,554.10 buy point.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.

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