CyberArk Software Ltd (NASDAQ:CYBR), the company that protects organizations from cyber attacks that have made their way inside the network perimeter, released a new security brief to protect organizations against cyber attacks through third-party remote access points. The brief, “Securing Remote Vendor Access with Privileged Account Security,” and accompanying Infographic can be downloaded for free: www.cyberark.com/remote-vendor.
“It’s no secret that attackers target the weakest links in IT security, which are often found in accounts provisioned to third-parties for network access,” said John Worrall, Chief Marketing Officer, CyberArk. “Often, these smaller third-party organizations have less sophisticated security policies and controls than the target companies, providing an open backdoor for attackers. With the proper privileged account security controls in place, organizations can provide the network access required for business efficiency while maintaining consistent security across all types of accounts – internal and external.”
The Third-Party, Remote Access Problem
High-profile attacks reveal that malicious hackers target third-party vendors and supply chain partners as a backdoor into their primary target. Organizations in every industry provide network access to third-party vendors, which range from services companies and suppliers to external consultants.
Attackers target less secure partners to compromise remote access points, steal and exploit privileged credentials, and gain access to targeted networks. From here, attackers can elevate privileges, move laterally through the network, and execute their attack goals while completely circumventing the targeted company’s defenses.
According to recent researchi, attackers are increasingly targeting this soft spot in cyber security:
- 60 percent of organizations allow third-party vendors remote access to internal networks1
- Top U.S. banks and credit companies average nearly 20,000 third-party suppliers2
- Most leading institutions have 200-300 high-risk, third-party relationships2
- Third-party errors increase the cost of a data breach by as much as $43 per record in the U.S.3
- 100 percent of advanced attacks exploit privileged credentials4
- 63 percent of data breaches are caused by security vulnerabilities introduced by third parties5
- 58 percent of organizations have no confidence that their third-party vendors are securing and monitoring privileged access to their network1
The CyberArk security brief provides organizations with guidance on how to address remote vendor access as a privileged access point that requires tight security controls. Topics covered include: approaches for managing and securing third-party credentials, how to isolate and monitor external sessions, and the importance of threat detection capabilities in security solutions for third-party access.
To download and use the CyberArk Infographic “Third-Party Access: The Hidden Weak Spot Exploited by Attackers,” please visit: www.cyberark.com/remote-vendor-infographic.
To download a free copy of CyberArk’s security brief on securing remote vendor access, please visit:www.cyberark.com/remote-vendor. (Original Source)
Shares of CyberArk closed yesterday at $59.45 . 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 $56.38 and it’s 200-day moving average is $41.72.
On the ratings front, CyberArk has been the subject of a number of recent research reports. In a report issued on March 23, Merrill Lynch analyst Tal Liani initiated coverage with a Buy rating on CYBR and a price target of $60, which represents a slight upside potential from current levels. Separately, on March 6, Piper Jaffray’s Andrew Nowinski initiated coverage with a Hold rating on the stock and has a price target of $54.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Tal Liani and Andrew Nowinski have a total average return of 3.3% and 7.1% respectively. Liani has a success rate of 48.9% and is ranked #1572 out of 3569 analysts, while Nowinski has a success rate of 54.4% and is ranked #967.
In total, 2 research analysts have rated the stock with a Sell rating, 3 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 $59.45 which is -19.7% 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.