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CyberArk (CYBR) Unveils New Security Features Within ISP
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CyberArk (CYBR - Free Report) is introducing new security features to enhance user access protection for cloud services and modern infrastructure, along with significant updates to its Secure Cloud Access solution.
The new update for CyberArk's Identity Security Platform (ISP) focuses on recognizing and mitigating identity-centric risks in its customers’ cloud ecosystem with a shift from standing access policies to zero standing privileges. The ISP ensures secure access for all identities, whether they are human or machine, regardless of the location or device used.
The update will encompass new capabilities, including risk identification in multi-cloud environments related to Identity and Access Management. For high-risk access to the cloud, CYBR is deploying context-based and automatic approval workflows. This enhancement will evaluate requests within a specific context and automatically approve them if they meet predefined criteria or conditions.
The stack also includes features that ensure seamless integration with tools, such as ChatOps and IT Service Management, promoting effective collaboration among engineers and cloud security teams. This will, in turn, facilitate faster approval for time-sensitive access requests.
Additionally, CYBR is integrating its Vendor Privileged Access Manager and Secure Cloud Access. This new integration follows a zero-standing privileges approach, ensuring secure access to its customers' cloud services by third-party vendors.
This setup will be supported by the company's extensive network of data centers across Australia, Canada, the U.K., Germany and India and is already in place to ensure smooth operation.
With the addition of these new security features, CyberArk’s portfolio has become even stronger. In the second quarter of 2023, the company experienced many businesses signing up for its platform, including Privileged Access Management, which continues to be the principal landing point.
The company has added around 235 new accounts during second-quarter 2023, and more than half of the clients are using multiple CyberArk solutions. Among these new clients are two Fortune 500 companies, one in transportation and the other in the energy sector.
CyberArk’s second-quarter revenues jumped 24% year over year to $175.8 million. The company’s revenues surpassed the Zacks Consensus Estimate of $173.2 million. Around 90% of its quarterly revenues were recurring in nature, which increased 31% year over year to $158 million.
Zacks Rank and Other Stocks to Consider
Currently, CyberArk carries a Zacks Rank #2 (Buy). Shares of CYBR have surged 27.2% year to date.
The Zacks Consensus Estimate for Applied Materials’ fourth-quarter fiscal 2023 earnings has been revised upward by 5 cents to $1.98 per share in the past 30 days. For fiscal 2023, earnings estimates have moved upward by 5 cents to $7.90 per share in the past 30 days.
AMAT's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 10.43%. Shares of AMAT have gained 48.9% year to date.
The Zacks Consensus Estimate for Palo Alto’s first-quarter fiscal 2024 earnings has been revised by 6 cents northward to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 in the past 60 days.
PANW's earnings beat the Zacks Consensus Estimate in preceding three quarters while missing the same on one occasion, the average surprise being 22.19%. Shares of PANW have rallied 86.8% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 71.6% year to date.
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CyberArk (CYBR) Unveils New Security Features Within ISP
CyberArk (CYBR - Free Report) is introducing new security features to enhance user access protection for cloud services and modern infrastructure, along with significant updates to its Secure Cloud Access solution.
The new update for CyberArk's Identity Security Platform (ISP) focuses on recognizing and mitigating identity-centric risks in its customers’ cloud ecosystem with a shift from standing access policies to zero standing privileges. The ISP ensures secure access for all identities, whether they are human or machine, regardless of the location or device used.
The update will encompass new capabilities, including risk identification in multi-cloud environments related to Identity and Access Management. For high-risk access to the cloud, CYBR is deploying context-based and automatic approval workflows. This enhancement will evaluate requests within a specific context and automatically approve them if they meet predefined criteria or conditions.
CyberArk Software Ltd. Price and Consensus
CyberArk Software Ltd. price-consensus-chart | CyberArk Software Ltd. Quote
The stack also includes features that ensure seamless integration with tools, such as ChatOps and IT Service Management, promoting effective collaboration among engineers and cloud security teams. This will, in turn, facilitate faster approval for time-sensitive access requests.
Additionally, CYBR is integrating its Vendor Privileged Access Manager and Secure Cloud Access. This new integration follows a zero-standing privileges approach, ensuring secure access to its customers' cloud services by third-party vendors.
This setup will be supported by the company's extensive network of data centers across Australia, Canada, the U.K., Germany and India and is already in place to ensure smooth operation.
With the addition of these new security features, CyberArk’s portfolio has become even stronger. In the second quarter of 2023, the company experienced many businesses signing up for its platform, including Privileged Access Management, which continues to be the principal landing point.
The company has added around 235 new accounts during second-quarter 2023, and more than half of the clients are using multiple CyberArk solutions. Among these new clients are two Fortune 500 companies, one in transportation and the other in the energy sector.
CyberArk’s second-quarter revenues jumped 24% year over year to $175.8 million. The company’s revenues surpassed the Zacks Consensus Estimate of $173.2 million. Around 90% of its quarterly revenues were recurring in nature, which increased 31% year over year to $158 million.
Zacks Rank and Other Stocks to Consider
Currently, CyberArk carries a Zacks Rank #2 (Buy). Shares of CYBR have surged 27.2% year to date.
Some other top-ranked stocks from the broader technology sector are Applied Materials (AMAT - Free Report) , Palo Alto Networks (PANW - Free Report) and Splunk , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Applied Materials’ fourth-quarter fiscal 2023 earnings has been revised upward by 5 cents to $1.98 per share in the past 30 days. For fiscal 2023, earnings estimates have moved upward by 5 cents to $7.90 per share in the past 30 days.
AMAT's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 10.43%. Shares of AMAT have gained 48.9% year to date.
The Zacks Consensus Estimate for Palo Alto’s first-quarter fiscal 2024 earnings has been revised by 6 cents northward to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 in the past 60 days.
PANW's earnings beat the Zacks Consensus Estimate in preceding three quarters while missing the same on one occasion, the average surprise being 22.19%. Shares of PANW have rallied 86.8% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 71.6% year to date.