CyberArk Well-Placed To Leverage Growing Awareness Of Access And Identity Enterprise Security Vulnerabilities

Identity and access management were already among the top corporate cybersecurity priorities, but the SolarWinds SUNBURST attack, which exploited privileged access through a “Golden SAML” attack, has intensified the spotlight on this critical element of security. That, in turn, has helped drive CyberArk (CYBR) about 30% since my last update, not bad relative to established players like Palo Alto (PANW) and Check Point (CHKP), but not quite as good as FireEye (FEYE) or Fortinet (FTNT).

I continue to like CyberArk’s opportunities across privileged access management (or PAM), endpoint management, and DevOps management, particularly as more complex architectures and more work-from-home have made these areas even more important (and challenging) to manage. The company’s transition to a SaaS-driven model is going to meaningful impact reported financials for at least three years, but the underlying opportunity here remains attractive and I believe the shares remain undervalued.

 

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CyberArk Well-Placed To Leverage Growing Awareness Of Access And Identity Enterprise Security Vulnerabilities