FireEye (FEYE) took a body blow Monday on Wall Street, with one analyst positing that the network securer wouldn’t survive stout competition from Cisco Systems (CSCO), Check Point Software and Palo Alto Networks. Together, Cisco, Check Point (CHKP), Palo Alto (PANW) and privately-held Mandiant hold 48% of the firewall market and use their own “sandbox” technology, Piper Jaffray analyst Andrew Nowinski wrote in a research report. Nowinski
Cybersecurity software firm Fortinet (FTNT) beat second-quarter earnings and sales estimates late Wednesday, and shares are surging in the stock market today. The beat is also lifting its cybersecurity peers: Palo Alto Networks (PANW), CyberArk Software (CYBR), Vasco Data Security (VDSI) and FireEye (FEYE). Fortinet gapped up 11.7% in huge volume to a new all-time high. Shares have gained 55% so far this year, finding support along the 50-day
Cybersecurity stocks climbed on the stock market today, with gains led by CyberArk Software (CYBR) and FireEye (FEYE). The bullish action follows news late Thursday that nearly every government agency has been hacked, leaving the personal data of 4 million current and former federal employees vulnerable. The latest breach shows that cybersecurity software is needed more than ever. IBD 50 stock CyberArk Software shares jumped 7% in heavy volume.