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Technology major Microsoft Corporation (MSFT) and Kyndryl, the world's largest IT infrastructure services provider, recently announced a global strategic partnership that will combine their expertise to serve enterprise customers worldwide.

Following the news, shares of the company rose 1.3% to close at $337.15 on Friday.

Implications of the Partnership

The collaboration intends to enhance hybrid cloud adoption with the help of Microsoft Cloud and enable modern applications and processes to ensure a hassle-free work experience for customers. Moreover, the partnership aims to focus on data modernization and governance, AI-driven innovations for industries, cyber security and resiliency, and transformation of mission-critical workloads to the cloud.

Further, with complementary capabilities, both the companies can benefit from the partnership. While Kyndryl will have access to additional markets and customers, Microsoft will gain a strong foothold in the $500 billion managed services market where Kyndry is a leading player.

Management Commentary

The CEO of Microsoft, Satya Nadella, said, "As Kyndryl's only premiere global alliance partner, with the power of the Microsoft Cloud we will help customers across every industry manage and modernize their business for the era ahead. We are looking forward to partnering with Kyndryl to serve our shared customers, building on its expertise and understanding of mission-critical IT systems, as well as the company's deep relationships with enterprises around the world."

See Analysts’ Top Stocks on TipRanks >>

Price Target

Recently, Mizuho Securities analyst Gregg Moskowitz reiterated a Buy rating on the stock with a price target of $360, which implies upside potential of 6.9% from current levels.

Consensus among analysts is a Strong Buy based on 22 Buys and 1 Hold. The average Microsoft price target of $364.36 implies upside potential of 8.2% from current levels. Shares have gained 55% over the past year.

TipRanks Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Microsoft’s performance this quarter.

According to the tool, the Microsoft website recorded a 2.49% monthly fall in global visits in October. Meanwhile, the website traffic has grown 17.52% year-to-date.

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Microsoft Corp (NASDAQ: MSFT) and Kyndryl Holdings Inc (NYSE: KD) announced a partnership on Friday in which the companies will be working together on enterprise solutions for data management, AI, cybersecurity and hybrid cloud migration and management. Kyndryl will be taking the lead on implementation and client advisory.

What Happened: The companies say the partnership will bring to market state-of-the-art solutions built on the Microsoft Cloud that will accelerate hybrid cloud adoption, modernize applications, and further enable modern work experiences for customers.

Kyndryl, the recent International Business Machines Corp (NYSE: IBM) spin-off of its managed infrastructure services, has declared Microsoft its only “premier global alliance partner.”

Kyndryl will advise clients and help to create new technologies that leverage Microsoft's cloud. Meanwhile, Microsoft is establishing the "Kyndryl University for Microsoft" to help Kyndryl's 90,000 employees quickly get familiar with the capabilities of the Microsoft cloud stack.

“As an independent company, we’re investing in our partner ecosystem to support the success of our customers,” said Martin Schroeter, Chairman and CEO of Kyndryl. “In this landmark relationship with Microsoft, Kyndryl is matching our deep expertise in mission-critical IT systems with the benefits of Microsoft Cloud to be at the heart of progress for our global customers.”

The long-term partnership will open additional markets and new customers to Kyndryl, while giving Microsoft access to the $500 billion managed services market where Kyndryl is a leader.

Related Link: This Day In Market History: Microsoft Introduces Windows Operating System

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Microsoft Corp (NASDAQ: MSFT) and Kyndryl Holdings Inc (NYSE: KD) announced a partnership on Friday in which the companies will be working together on enterprise solutions for data management, AI, cybersecurity and hybrid cloud migration and management. Kyndryl will be taking the lead on implementation and client advisory.

What Happened: The companies say the partnership will bring to market state-of-the-art solutions built on the Microsoft Cloud that will accelerate hybrid cloud adoption, modernize applications, and further enable modern work experiences for customers.

Kyndryl, the recent International Business Machines Corp (NYSE: IBM) spin-off of its managed infrastructure services, has declared Microsoft its only “premier global alliance partner.”

Kyndryl will advise clients and help to create new technologies that leverage Microsoft's cloud. Meanwhile, Microsoft is establishing the "Kyndryl University for Microsoft" to help Kyndryl's 90,000 employees quickly get familiar with the capabilities of the Microsoft cloud stack.

“As an independent company, we’re investing in our partner ecosystem to support the success of our customers,” said Martin Schroeter, Chairman and CEO of Kyndryl. “In this landmark relationship with Microsoft, Kyndryl is matching our deep expertise in mission-critical IT systems with the benefits of Microsoft Cloud to be at the heart of progress for our global customers.”

The long-term partnership will open additional markets and new customers to Kyndryl, while giving Microsoft access to the $500 billion managed services market where Kyndryl is a leader.

Related Link: This Day In Market History: Microsoft Introduces Windows Operating System

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Get insight into trading platforms. Compare the best online stock brokerages.

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