NEWTON, Mass. & PETACH TIKVA, Israel - CyberArk (NASDAQ: CYBR) has announced the general availability of CyberArk Secure Browser, a solution designed to enhance security and privacy for users accessing sensitive corporate resources. The browser, which is a new addition to the CyberArk Identity Security Platform, aims to address cybersecurity challenges by offering a secure and isolated environment for online activities.
According to the company, CyberArk Secure Browser is the first identity-centric secure browser in the industry, intended to provide a balance between security, privacy, and productivity. It is engineered for a cloud-first world, ensuring secure and consistent access to both on-premises resources and SaaS applications. The browser is equipped with intelligent privilege controls and can be deployed across managed and unmanaged devices.
The need for such a solution has been underscored by recent trends in remote work and the widespread use of SaaS applications, which have introduced new vulnerabilities and security blind spots for organizations. A study from March 2024 revealed that a significant number of U.S. office workers use the same device for both work and personal browsing, often saving workplace logins and passwords in their browsers, which can lead to security risks.
CyberArk's Secure Browser is designed to mitigate these risks by enabling passwordless access to privileged information and assets, and by helping to prevent breaches that could result from cookie theft or session takeover attacks. It also aims to streamline regulatory and audit compliance by separating work and personal applications and domains.
The development of CyberArk Secure Browser comes in response to the evolving landscape of cybersecurity threats, including recent major breaches that have highlighted the ease with which attackers can gain unauthorized access to sensitive data through techniques like cookie theft.
The information for this article is based on a press release statement from CyberArk.
InvestingPro Insights
CyberArk (NASDAQ: CYBR), the company behind the new CyberArk Secure Browser, has shown promising financial data that could interest investors monitoring the cybersecurity sector. With a market capitalization of 11.15 billion USD, CyberArk stands as a significant player in the industry. As per the latest data, the company has a high gross profit margin of 79.51% for the last twelve months as of Q4 2023, indicating efficient operations and a strong ability to generate income from their sales.
Investors should note that while the company has been operating at a loss, with a negative operating income margin of -15.22% during the same period, CyberArk has demonstrated a remarkable revenue growth rate of 27.07% year-over-year. This growth is even more pronounced on a quarterly basis, with a recent surge of 31.9% in Q4 2023. This suggests that the company's products and services, including the latest CyberArk Secure Browser, are gaining traction in the market.
One of the key InvestingPro Tips for CyberArk is the expectation of net income growth this year. This is noteworthy for potential investors as it indicates a potential turnaround in profitability, aligning with the analysts' predictions that the company will be profitable this year. In addition, CyberArk has shown a strong return over the last three months, with a 19.53% price total return, reflecting investor confidence in the company's strategic direction and market performance.
For those interested in diving deeper into CyberArk's financials and future prospects, there are additional InvestingPro Tips available. These include insights on the company's debt level, valuation multiples, and long-term returns. To explore these tips and more, visit https://www.investing.com/pro/CYBR and consider using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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