CyberArk Software Ltd. CYBR recently launched the CyberArk MSP Console, a groundbreaking tool designed specifically for managed service providers (MSPs). This innovative platform enhances operational efficiency and scalability for MSPs, offering a comprehensive dashboard to seamlessly monitor and manage customers utilizing the CyberArk Identity Security Platform.
MSP Console Strengthens CyberArk’s Capabilities
The CyberArk MSP Console is a significant milestone in CyberArk’s commitment to empowering its extensive network of partners, which includes more than 1,300 security-focused partners globally, including a growing ecosystem of MSPs. By providing MSPs with a centralized command center, CyberArk enables them to expand their identity security services effectively, safeguarding both human and non-human identities across all customer environments.
The CyberArk Identity Security Platform focuses on intelligent privilege controls, ensuring the secure access of human and machine identities across hybrid and multi-cloud environments. By automating the identity lifecycle and enforcing least privilege principles, the platform strengthens its security posture through a Zero-Trust approach.
CyberArk Software Ltd. Price and Consensus
CyberArk Software Ltd. price-consensus-chart | CyberArk Software Ltd. Quote
The new CyberArk MSP Console integrates seamlessly with CyberArk Privilege Cloud environments, offering MSPs a unified view of tenant data and assets. Key features include single-click access to all tenants, centralized onboarding of accounts, streamlined search capabilities and comprehensive auditing of privileged sessions.
Chris Moore, the senior vice president of Global Channels at CyberArk, emphasized the growing importance of MSPs in bridging the cybersecurity skill gap for organizations. The CyberArk MSP Console enables MSP partners to deliver identity security services efficiently, ensuring that every identity is protected with the right privilege controls, thus driving revenue growth and enhancing client security and compliance.
CyberArk Benefits From the Evolving Cybercrime Landscape
In the middle of the evolving work culture with hybrid work arrangements and the deployment of personal devices for professional work, the demand for ensuring the security of endpoints and on-premises IT infrastructure is expanding exponentially.
CYBR enjoys several opportunities to innovate and expand in the ever-changing cybersecurity field. As attackers now use AI to create more advanced methods of breaching organizations’ data and technology, CyberArk is committed to facing new challenges. It established an AI Center of Excellence in September 2023 to deal with evolving cyber threats.
Furthermore, CYBR has broadened the reach of its Identity Security solution on the Amazon Web Services Marketplace, enhancing accessibility. The company also maintains a robust presence in various sectors like banking, healthcare, government and utilities. This diversification helps shield CyberArk from the negative impacts of decreasing IT spending while contributing to CYBR’s top line.
Zacks Rank & Other Stocks to Consider
CyberArk currently carries a Zacks Rank #2 (Buy). CYBR stock has gained 20.1% in the year-to-date (YTD) period. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Some other top-ranked stocks worth considering in the broader technology sector include Meta Platforms META, Zscaler ZS and Twilio TWLO, each carrying a Zacks Rank #2.
The Zacks Consensus Estimate for Meta Platforms’ 2024 earnings has been revised 8.9% upward to $19.94 per share in the past 60 days, which suggests year-over-year growth of 34.1%. The long-term estimated earnings growth rate for the stock stands at 19.5%. META stock has soared 40.5% YTD.
The Zacks Consensus Estimate for Zscaler’s fiscal 2024 earnings has been revised upward by 4 cents to $2.73 per share in the past 30 days, which calls for an increase of 52.5% on a year-over-year basis. The long-term expected earnings growth rate for the stock is pegged at 28.1%. Shares of ZS have plunged 14.9% YTD.
The consensus mark for Twilio’s 2024 earnings has been revised upward by 4 cents to $2.64 per share over the past 30 days, which indicates a 7.8% increase from 2023. It has a long-term earnings growth expectation of 19.6%. TWLO stock has declined 19.8% in the YTD period.
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