Networking products marketer and developer Juniper Networks, Inc. (NYSE: JNPR) recently revealed that it has acquired cloud-native zero trust Network Access Control (NAC) solutions provider WiteSand. The financial terms of the deal have been kept under wraps.
Following the news, shares of the company declined marginally to close at $33.79 on Monday.
Strategic Impact
The acquisition will enable Juniper to gain access to WiteSand’s NAC expertise, which is increasingly becoming a critical component in many IT environments.
As existing NAC solutions are complex to deploy and operate, WiteSand through its cloud-based NAC operations can solve these complexities and consequently leverage AIOps for automated provisioning, monitoring, analysis and security.
Management Commentary
The EVP AI-Driven Enterprise, Juniper Networks, Sujai Hajela, said, “Both WiteSand and Juniper share a common vision of disrupting the antiquated NAC space with cloud agility and AI-driven intelligence. Their premier NAC technology and renowned engineering team are the perfect complement to Juniper’s AI-driven enterprise portfolio. When NAC is integrated with wireless assurance, wired assurance, WAN assurance, IoT assurance, and indoor location services under a common Mist cloud and AI umbrella, Juniper customers can deliver amazing experiences to their network users, from the client all the way to the cloud.”
Stock Rating
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 7 Buys, 4 Holds and 3 Sells. The average Juniper Networks stock prediction of $35.79 implies that the stock has upside potential of 5.9% from current levels. Shares have gained 38.2% over the past year.
Hedge Funds’ Confidence
TipRanks’ Hedge Fund Trading Activity tool shows that hedge fund confidence in Juniper Networks is currently Very Negative. Moreover, the cumulative change in holdings across the three hedge funds that were active in the last quarter was a decrease of 45.9 million shares.
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