CyberArk Software (CYBR) added another hacker speed bump Wednesday when CEO Udi Mokady announced the $30.5 million acquisition of Viewfinity, a maker of software designed to secure a network from its endpoints. It’s CyberArk’s largest acquisition, Mokady told IBD. CyberArk stock was up 1%, near 53, in afternoon trading in the stock market today. Israel-based CyberArk specializes in protecting privileged account information for 1,900 enterprise
CyberArk Software’s (CYBR) 34% decline on Wall Street since June has created an “attractive” entry point, a second analyst has now written this month of the beleaguered stock. Nomura analyst Frederick Grieb sees CyberArk’s sub-3% penetration into the privileged account management market as a positive for potential investors. “Taking a bottom-up approach, we arrive at a $9 billion potential total addressable market for CyberArk license revenue,”
Tech security is worth watching going into Thursday’s stock market trading, with CyberArk (CYBR) and Imperva (IMPV) each jumping 5% Wednesday as the broader market slipped, with the S&P 500 Index down 0.2%. Both stocks have seen analyst upgrades this month amid rising demand for cybersecurity software. And unconfirmed rumors are circulating this week that CyberArk could be an IBM (IBM) acquisition target. IBD Leaderboard security stock Palo Alto