Cyberark Software Ltd Stock Price, News & Analysis

CyberArk (NASDAQ: CYBR) has been recognized as a Leader in The Forrester Wave™ report for Identity-As-A-Service (IDaaS) for Enterprise, Q3 2021. The company achieved the highest scores in critical categories, including product vision, innovation roadmap, user authentication, and compliance. CyberArk's Workforce Identity solution enhances security and operational efficiency for enterprises by providing secure access to applications for a distributed workforce. This recognition affirms CyberArk's strategy in identity security and its robust offering that meets the growing security challenges.

CyberArk (NASDAQ: CYBR) reported strong financial results for Q2 2021, showcasing a 10% revenue increase to $117.2 million year-over-year. Subscription revenue surged 101% to $27.1 million, driving a total ARR growth of 35% to $315 million. The company achieved a remarkable 128% growth in the subscription portion of ARR and a 65% subscription booking mix. CyberArk, recognized as a Leader in Gartner's Magic Quadrant for Privileged Access Management, is optimistic about its future, projecting Q3 revenues between $116 million and $124 million and a full-year revenue forecast of $484 million to $496 million.

CyberArk (NASDAQ: CYBR) has been recognized as a Leader in the 2021 Gartner Magic Quadrant for Privileged Access Management, marking its third consecutive acknowledgment. The company was rated highest in execution and vision completeness. CyberArk's commitment to innovation and customer engagement is evident through its transition to a subscription model and expansion into cloud-native solutions. Customer feedback highlights CyberArk's effectiveness in enhancing security operations and easing management burdens, while the firm has recently achieved multiple industry awards for its offerings.

CyberArk (NASDAQ: CYBR) is set to announce its second quarter 2021 financial results on August 12, 2021, before the U.S. market opens. The company will host a conference call at 8:30 a.m. ET on the same day to discuss these results and provide its business outlook. Interested parties can access this call by dialing the provided numbers or via a live webcast on CyberArk's investor relations page. A replay will be available for one week following the call.

CyberArk (NASDAQ: CYBR) announced its participation in the Berenberg Thematic Software Days Conference 2021, scheduled for June 14, 2021, at 11:00 a.m. EDT. The presentation will be available via webcast, with an archive accessible on the company's investor relations website for a limited time.

As the global leader in Identity Security, CyberArk focuses on privileged access management, ensuring security for various identities across diverse platforms and applications.

CyberArk (NASDAQ: CYBR) has announced the addition of several identity security solutions to the Amazon Web Services Marketplace. These include CyberArk Cloud Entitlements Manager, CyberArk Endpoint Privilege Manager, and CyberArk Workforce Identity. The aim is to enhance security for organizations migrating to the cloud while addressing challenges posed by remote work and identity-centric attacks. The new offerings will help AWS customers implement least privilege access controls, thereby reducing the risk of privilege escalation and unauthorized access.

CyberArk (NASDAQ: CYBR) announced significant enhancements to its Identity Security Platform, aimed at securing high-risk access in cloud and hybrid environments. The updates focus on a Zero Trust approach to identity security, a crucial aspect as identity-related breaches are prevalent. New offerings include CyberArk Dynamic Privileged Access, Secure Web Sessions, and Lifecycle Management for Privileged Users. These innovations are designed to streamline operations and enhance security, aligning with the increasing demand for robust identity management solutions.

CyberArk (NASDAQ: CYBR) has announced an expanded distributor agreement with SYNNEX Corporation to enhance the distribution of its Identity Security portfolio in the U.S. and Canada. This partnership focuses on Privileged Access Management solutions, aiming to secure identities accessing critical assets. The agreement builds on an existing relationship in Latin America and is expected to strengthen the security posture of end-user organizations. The CyberArk Partner Network plays a crucial role in delivering these solutions globally.

CyberArk (NASDAQ: CYBR) announced it will webcast presentations at two key virtual conferences. The first is the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 10:15 a.m. EDT. The second is the William Blair 41st Annual Growth Stock Conference on June 1, 2021, at 9:00 a.m. EDT. The presentations will be archived and available on their investor relations website, ensuring access to insights on their Identity Security solutions for stakeholders.