Cyberark Software Ltd (NASDAQ:CYBR), the company that protects organizations from cyber attacks that have made their way inside the network perimeter, announced it won the Identity and Authentication Management Award at NetworkWorld Asia Information Management Awards 2015. The annual awards program, organized by Questex Asia, recognizes the best vendors in information security, storage and data management in Asia.
“Privileged accounts represent the largest security vulnerability an organization faces today. In the hands of an external attacker or malicious insider, privileged accounts allow attackers to take full control of an organization’s IT infrastructure, disable security controls, steal confidential information, commit financial fraud and disrupt operations. Organizations are realizing how critical cyber security is, and they recognize that it is much more impactful to take a proactive path to security by protecting, managing, monitoring and analyzing activity on privileged accounts,” said John Worrall, chief marketing officer, CyberArk. “This award recognizes CyberArk’s commitment to protecting our customers’ businesses from potential adversaries.”
The three-phase nomination process involved nominations from numerous vendor partners, resellers and Questex Asia’s Enterprise Team to NetworkWorld Asia’s editorial team for consideration in 30 award categories. More than 100 regional IT leaders and CIOs of end-user organizations were invited to vote for a winner in each category.
“There is a growing need among Asian enterprises today to protect their digital assets from insider attacks or accidental leakage. The award highlights the unrivalled breadth and depth, as well as the importance of the privileged account security solution that CyberArk offers today,” said Victor Ng, Southeast Asia bureau chief of NetworkWorld Asia. “We congratulate CyberArk for attaining this well-deserved honor.”
Shares of CyberArk Software closed yesterday at $70.83 . CYBR has a 1-year high of $71.86 and a 1-year low of $22.12. The stock’s 50-day moving average is $63.93 and its 200-day moving average is $51.97.
On the ratings front, CyberArk Software has been the subject of a number of recent research reports. In a report issued on May 8, Oppenheimer analyst Shaul Eyal reiterated a Buy rating on CYBR, with a price target of $70, which represents a slight downside potential from current levels. 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, Shaul Eyal and Rick Sherlund have a total average return of 21.1% and 12.4% respectively. Eyal has a success rate of 77.5% and is ranked #11 out of 3629 analysts, while Sherlund has a success rate of 69.0% and is ranked #158.
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 -16.9% 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.