CyberArk Software Ltd (NASDAQ:CYBR), the company that protects organizations from cyber attacks that have made their way inside the network perimeter, announced an independent study from Nucleus Research on customer return on investment (ROI). The report found that the CyberArk Privileged Account Security Solution reduced customers’ cyber security risk profile by protecting against advanced threats that exploit privileged accounts and that customers can achieve complete payback within six months or less and gain greater ROI as the CyberArk platform is used over time. The full report can be downloaded here for free.
While many organizations focus on individual end-user password security, the Nucleus report confirms that privileged account security is a critical aspect of protecting against advanced threats. Privileged credentials provide access to and control of systems, networking devices, applications and databases. These credentials are often shared by many administrators and IT staffers, making it challenging to systematically manage credentials, efficiently audit privileged account usage and determine malicious use. This is a primary reason why privileged accounts are exploited in nearly all significant cyber attacks1.
“Unsecured privileged accounts are one of the most critical security vulnerabilities in any organization,” saidRebecca Wettemann, Vice President of Research, Nucleus Research. “We found that many IT staffs still depend on home-built applications or spreadsheets to manage these accounts. As we’ve seen with recent high-profile breaches, this is a recipe for disaster. Not only is it a waste of time and resources, it’s an open invitation for an attacker to commandeer a company’s infrastructure. CyberArk eliminates these security risks and administrative burdens, all while providing customers with an incredible ROI.”
Prevent Privileged-Based Attacks and Improve ROI
Nucleus evaluated a number of CyberArk customers in the healthcare, financial services, engineering and security industries. The analyst firm found that CyberArk’s ease of deployment, flexibility in addressing growing security needs with limited additional investment and disruption, and centralized platform approach are the primary reasons why customers select the company over competitors.
Customers received strong and on-going ROI resulting from increased productivity in IT and security teams, streamlined compliance audits and reduced risk of privileged account compromise. Together, these processes and security benefits provided for time and cost savings and long-term resource efficiencies. In the report, customers described the impact of CyberArk on their organizations:
- “Each administrator had their own way of guarding passwords, one even kept his in his wallet. We needed a secure way to bring everything together.”
- “CyberArk has allowed me to take on more work because it has reduced the time that I spend managing passwords by 20-25 percent.”
- “With our first audit using CyberArk, we saved 30-40 percent in time and resource requirements over the previous year. We expect that next year we will save even more.”
The value CyberArk delivers to its customers is readily apparent in several critical areas, including: reduced risk and improved security; increased IT admin and security staff productivity; improved internal and external compliance; and reduced audit costs.
“This report reaffirms that CyberArk customers are able to protect against today’s most dangerous threats while reaping a significant return on their investment,” said John Worrall, Chief Marketing Officer, CyberArk. “Privileged account security is no longer a compliance check box. It’s a security imperative as attackers continue to target these powerful accounts to commandeer infrastructure and execute their attacks.” (Original Source)
Shares of CyberArk Software closed yesterday at $60.72 . CYBR has a 1-year high of $70.48 and a 1-year low of $22.12. The stock’s 50-day moving average is $63.32 and its 200-day moving average is $50.44.
On the ratings front, CyberArk Software has been the subject of a number of recent research reports. In a report issued on May 8, Piper Jaffray analyst Andrew Nowinski maintained a Hold rating on CYBR, with a price target of $54, which represents a potential downside of 11.1% from where the stock is currently trading. Separately, on the same day, Nomura’s Rick Sherlund maintained a Hold rating on the stock and has a price target of $50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Nowinski and Rick Sherlund have a total average return of 11.6% and 12.0% respectively. Nowinski has a success rate of 63.5% and is ranked #515 out of 3610 analysts, while Sherlund has a success rate of 69.0% and is ranked #173.
In total, 4 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $58.83 which is -3.1% under where the stock closed yesterday.
CyberArk Software Ltd offers IT security solutions to protect organizations from cyber attacks. Its services include Maintenance and Support and Professional Services.