CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) has been recognized as an Overall Leader in the 2024 KuppingerCole Leadership Compass on Privileged Access Management (PAM). The report highlights CyberArk's pioneering role in PAM, utilizing artificial intelligence for threat detection and credential protection in hybrid and multi-cloud environments.

KuppingerCole placed CyberArk in the top quadrant with the highest scores across Product, Innovation, and Market Leadership categories. The report noted CyberArk's focus on identity security, multi-tenancy support, and Zero Standing Privileges (ZSP) to reduce identity-related risk.

The CyberArk Identity Security Platform offers a unified, modular approach to cyber-risk reduction, encompassing PAM, workforce and customer access, endpoint privilege security, secrets management, cloud privilege security, and identity management to enable Zero Trust and enforce least privilege.

CyberArk (NASDAQ: CYBR), the identity security company, has announced it will report its third quarter 2024 financial results on Wednesday, November 13, 2024, before the U.S. financial markets open. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the financial results and business outlook.

To access the call, participants can dial +1 (888) 330-2455 (U.S.) or +1 (240) 789-2717 (international) with the conference ID 6515982. A live webcast will be available on the company's website. Following the call, a replay will be accessible for one week, and an archived webcast will be available in the 'Investor Relations' section of CyberArk's website.

Venafi, a CyberArk company, has unveiled new product capabilities in its Control Plane for Machine Identities at the 2024 Machine Identity Security Summit. These advancements aim to address critical machine identity security challenges and help organizations prepare for a multi-cloud and post-quantum future. Key features include:

1. Support for Post Quantum Cryptography (PQC) in TLS Protect and CodeSign Protect
2. Cloud-to-Cloud Connectivity for multi-cloud environments
3. Workload Identity Federation to enhance security and reduce reliance on API keys
4. OpenShift Routes component for Red Hat OpenShift users

These new capabilities are designed to help security and platform teams tackle emerging machine identity challenges, improve overall security posture, and ensure organizations are prepared for future technological advancements.

CyberArk (NASDAQ: CYBR) has successfully completed its acquisition of Venafi, a leader in machine identity management, from Thoma Bravo. This strategic move expands CyberArk's total addressable market by $10 billion to approximately $60 billion. The combined capabilities aim to create end-to-end machine identity security solutions, addressing the rapid proliferation of machine identities in digital environments.

The acquisition, valued at approximately $1.54 billion, was completed through a combination of cash ($1 billion) and CyberArk ordinary shares ($540 million). This merger is expected to set a new paradigm for machine identity security at enterprise scale, shifting from manual, siloed approaches to centralized management across all applications and workloads in any cloud or IT environment.

CyberArk, the identity security company, celebrates its 10th anniversary of going public on NASDAQ. CEO Matt Cohen and founder Udi Mokady will ring the Opening Bell at the NASDAQ Stock Exchange on September 24. Over the past decade, CyberArk has achieved significant milestones:

- Revenue growth from $103 million in 2014 to over $750 million in 2023
- Stock performance with a cumulative return of more than 700% since IPO
- Customer base expansion from 1,550 to over 8,800 globally
- Employee growth from fewer than 400 to more than 3,200 worldwide
- Consistent recognition as a leader in privileged access management and identity security

CyberArk's total addressable market has expanded to more than $60 billion, including $10 billion from the pending Venafi acquisition announced in May 2024. The company remains committed to securing every identity with the right level of privilege controls and continues to innovate in the identity security space.

CyberArk (NASDAQ: CYBR) has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Privileged Access Management for the sixth consecutive time. The company is positioned furthest in Completeness of Vision, highlighting its strength in offering strategy, innovation, and market understanding.

Key points:

• CyberArk's Identity Security Platform secures various identity types, including workforce, IT, developer, and machine identities.
• The platform offers advanced PAM, secrets management, and endpoint privilege security capabilities.
• CyberArk recently introduced new features, including support for secure standing access and zero standing privileges.
• The company launched CORA AI™ for enhanced identity threat detection and response.
• CyberArk's partner ecosystem includes over 1,300 partners and 200 certified integrations.

Proofpoint and CyberArk (NASDAQ: CYBR) have expanded their strategic partnership to enhance identity security in hybrid and multi-cloud environments. The collaboration aims to address critical cyber challenges by launching new integrations and solutions. Key highlights include:

1. Combining layered defenses to stop threats before reaching users and applying preventative policies.

2. Integration of Proofpoint's ZenWeb Browser Extension with CyberArk's Secure Browser to protect against malicious URLs in real-time.

3. Leveraging Proofpoint's Nexus TI to identify email threats and pass them to CyberArk Identity Flows for adaptive response.

4. Automating privileged account discovery and management through CyberArk.

This partnership addresses the growing importance of identity-centric security strategies in today's evolving threat landscape.

CyberArk (NASDAQ: CYBR) announced that Technological University Dublin (TU Dublin) has implemented the CyberArk Identity Security Platform to enhance security in their hybrid environment. TU Dublin, Ireland's first technological university with nearly 30,000 students, faced challenges managing privileged identities across self-hosted and cloud infrastructures. Following a ransomware attack in 2021, TU Dublin turned to CyberArk for a modern identity security approach.

The implementation has improved visibility and reduced risk across TU Dublin's hybrid environment. High-risk domain controllers and admin accounts are now protected using a multi-layered strategy, including multi-factor authentication and just-in-time access. CyberArk's solution also streamlined third-party vendor access without relying on VPNs, reducing costs and complexities.

CyberArk (NASDAQ: CYBR) announced that RBL Finserve, a leading Indian financial institution, has chosen the CyberArk Identity Security Platform to enhance its cybersecurity measures. RBL Finserve implemented CyberArk Privileged Access Manager and CyberArk Workforce Identity to protect credentials, manage privileged accounts, and enforce least privilege policies. The company also adopted CyberArk's Single Sign-On (SSO) and Adaptive Multifactor Authentication (MFA) solutions.

This implementation allows RBL Finserve to manage IT administrators' privileged access, isolate and monitor sessions, and continuously rotate credentials. The move aims to safeguard customer data, ensure business continuity, and boost cyber resilience in response to the evolving threat landscape and increased reliance on third-party services, cloud computing, and remote work.