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CyberArk (CYBR) Begins Hosting Its Security Platform From UAE

CyberArk CYBR has started hosting its Identity Security Platform services from a UAE-based data center. CYBR came up with this setup to support a safe and secure digital ecosystem in the UAE. This arrangement will protect the data sovereignty needs of key industries in the region.

CyberArk assists UAE customers, including government and big companies in finance, telecom and energy, as well as cloud-based firms, with their security needs. The company provides a comprehensive Identity Security Platform for workforce and customer access, endpoint security, privileged access management, secrets management and cloud security, promoting Zero Trust and minimal access.

CYBR’s locally-hosted arrangements for the new offering will enable organizations to manage, process and store data within the geographical boundaries of the UAE. This will help organizations meet the local cybersecurity regulations to leverage CyberArk’s expertise in securing human and machine identities.

CyberArk Software Ltd. Price and Consensus

CyberArk Software Ltd. Price and Consensus
CyberArk Software Ltd. Price and Consensus

CyberArk Software Ltd. price-consensus-chart | CyberArk Software Ltd. Quote

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Hosting CyberArk’s Identity Security Platform services from a UAE-based data center will provide a competitive advantage and increase its market share. Previously, CYBR has extended the reach of its Identity Security solutions by making these softwares available on Amazon Web Services marketplace.

The company has also improved its Identity Security offerings by introducing CyberArk Secure Browser, which is an Identity Security web browser for enterprises. The company is successfully capitalizing on every opportunity to innovate and expand its portfolio in the ever-changing cybersecurity field.

For instance, CYBR has also entered into the field of artificial intelligence (AI) by introducing the AI Center of Excellence in September 2023 as attackers now use AI to create more advanced methods of breaching organizations' data and technology.

The company also gains from the evolving work culture with hybrid arrangements based on remote work and personal device usage. CyberArk’s customers are recognizing the benefit of its security solutions to protect the security of endpoints and on-premises IT infrastructure.

This is heavily contributing to CYBR’s top line.

Zacks Rank and Other Stocks to Consider

Currently, CYBR sports a Zacks Rank #1 (Strong Buy). Shares of the company have returned 104.5% in the past year.

Some other top-ranked stocks from the broader technology sector are Dell Technologies DELL, Arista Networks ANET and Crexendo CXDO, each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for DELL’s 2024 earnings per share has been revised upward by 54 cents to $7.64 in the past 60 days. Shares of DELL have surged 170.7% in the past year.

The Zacks Consensus Estimate for ANET's 2024 earnings per share has been revised upward by 3 cents to $7.49 in the past 30 days. Shares of ANET have gained 26.1% in the past year.

The Zacks Consensus Estimate for CXDO’s 2024 earnings per share has been revised upward by 6 cents to 23 cents in the past 60 days. Shares of CXDO have skyrocketed 194.1% in the past year.

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Dell Technologies Inc. (DELL) : Free Stock Analysis Report

Arista Networks, Inc. (ANET) : Free Stock Analysis Report

CyberArk Software Ltd. (CYBR) : Free Stock Analysis Report

Crexendo Inc. (CXDO) : Free Stock Analysis Report

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