CyberArk Software Ltd. - CYBR STOCK NEWS

CyberArk (NASDAQ: CYBR) has announced the winners of its 2024 Identity Security Impact Awards during its annual conference, IMPACT 24. The awards recognize customers who have implemented innovative identity-centric cybersecurity programs. The winners include Carnival , Deutsche Lufthansa AG, and Albertsons. These organizations have successfully leveraged CyberArk's solutions to reduce cyber risks, drive digital transformation, and enhance business impacts. Additionally, CyberArk's IMPACT World Tour will take place in over 20 cities worldwide in 2024, featuring curated content and local speakers.

CyberArk (NASDAQ: CYBR) has been selected by Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) to secure its cloud migration and manage sensitive access. Coca-Cola HBC, with over 33,000 employees in 29 markets, needed a partner to modernize their security approach. CyberArk's Identity Security Platform will provide centralized privileged access management for internal and external users, including multiple external vendors.

CyberArk was chosen for its best-in-class PAM capabilities, allowing Coca-Cola HBC to manage endpoints, workforce, and privilege access from a single platform. This decision aims to minimize risk and secure access across multiple geographies, optimizing Coca-Cola HBC's cybersecurity posture and supporting digital growth.

CyberArk (NASDAQ: CYBR) announces enhancements to its Identity Security Platform at the CyberArk IMPACT 24 conference.

Driven by AI and Identity Threat Detection and Response (ITDR), the new features aim to secure identities across the workforce, IT, developers, and machines. Key upgrades include CyberArk CORA AI, enhanced password management, and zero standing privileges for IT users.

The platform now offers end-to-end passwordless authentication, granular access management, one-click secure resource access, and centralized secrets management. These updates aim to improve security efficiency and user experience.

CyberArk, a leader in identity security, announced the launch of CyberArk CORA AI at its CyberArk IMPACT 24 conference. This AI-powered feature integrates into the CyberArk Identity Security Platform, transforming vast identity data into actionable insights. CORA AI enhances security by reducing the time to analyze identity anomalies from hours to minutes. It provides natural language recommendations for adjusting access policies, boosts productivity, and enhances all types of identity security. Key features include session analysis, secrets anomaly detection, automated policy creation, and real-time assistance via a chatbot. Currently in early availability, CORA AI is set to elevate the security outcomes for its users.

CyberArk (NASDAQ: CYBR) has signed a definitive agreement to acquire Venafi, a leader in machine identity management, from Thoma Bravo for approximately $1.54 billion. This deal combines Venafi’s machine identity capabilities with CyberArk’s identity security platform, enhancing end-to-end machine identity security. The acquisition will expand CyberArk's total addressable market by nearly $10 billion, reaching approximately $60 billion. Venafi is expected to add $150 million in annual recurring revenue and immediately improve margins. The transaction is projected to close in the second half of 2024, pending regulatory approvals.

CyberArk released its 2024 Identity Security Threat Landscape Report, revealing that 93% of organizations experienced two or more identity-related breaches in the past year. The report emphasizes the rapid growth of machine identities, driven by multi-cloud strategies and AI programs, and highlights that machine identities are seen as the riskiest by security professionals. Despite the rise in identity-related breaches, only 38% of organizations classify both human and machine identities with sensitive access as privileged users. Additionally, 99% of organizations are using AI in cybersecurity, but 93% expect AI tools to also pose cyber risks. The report calls for a shift towards a cybersecurity model that prioritizes identity security to combat increasing attacks.

CyberArk (NASDAQ: CYBR), a leader in identity security, will host an Investor Strategy Update at the IMPACT 24: Identity Security Conference on May 21, 2024, in Nashville, Tennessee. The event will feature key discussions on CyberArk's leadership in identity security, innovation roadmap, market dynamics, and go-to-market strategies. The update will start at 10:30 a.m. CDT and end at 12:15 p.m. CDT, including a live Q&A session. Institutional investors and sell-side analysts can attend in-person or virtually. Pre-registration is required. Live and archived webcasts will be available on CyberArk's investor relations website.

CyberArk (NASDAQ: CYBR), a leader in identity security, has announced its participation in several upcoming investor conferences. The company will present at the TD Cowen Annual TMT Conference in New York on May 30, 2024, at 9:05 a.m. ET.

The Stifel Cross Sector Insight Conference in Boston will feature CyberArk on June 4, 2024, at 10:20 a.m. ET.

On June 5, 2024, CyberArk will present at the William Blair Annual Growth Stock Conference in Chicago at 9:20 a.m. CT and later at the BofA Securities Global Technology Conference in San Francisco at 3:20 p.m. PT.

All presentations will be available via live webcast and later archived on the company's investor relations website.

CyberArk announced upcoming highlights of CyberArk IMPACT 24, its annual identity security conference, from May 20-22 at the JW Marriott Nashville. With over 90% of organizations experiencing identity-related breaches, the event will focus on safeguarding all identities across IT, developers, workforce, and machines. Key speakers include CyberArk CEO Matt Cohen, industry experts, and customers. The conference will offer insights, best practices, hands-on labs, and a preview of new solutions.