Nasdaq took a pretty hefty hit on Thursday, tech stocks were one of the demographics effected. One company stood out from the rest and actually was in the green Thursday. CyberArk (CYBR), after going public Wednesday, improved shares by 90% and on Thursday they continued to rise another 10%. The reason they are believed to improve while everyone else took a hit is because of the increase of technology “hack attacks”. With big name companies like Home Depot, JPMorgan Chase and Target being in the names recently due to security breaches, it’s no surprise a company who’s purpose is to install software to avoid these breaches is currently experiencing increasing profits. The company had slowly been growing, increasing profits since 2012. The market for this service also competitive, with other companies like FireEye and IBM, which is beneficial for the customer, avoiding a monopoly and keeping prices steady and fair.
Very interesting read. It's pretty incredible to see breaches at these huge corporations who have the systems in place to avoid anything such as large as this. With JP Morgan in particular being a bank you would expect a high level of security. This means that the hackers are very capable of breaching the systems and that this must be watched more carefully. Companies such as CyberArk will continue to prove their worth and will definitely be able to contract some of the largest companies who are willing to shell out a significant portion of cash to ensure the security of their systems.
ReplyDeleteThose companies with poor security due deserve to take a hit. They have a lot of peoples important private information and should be guarding it more closely. With that being said CyberArk deserves every penny they get. There only job is to protect that information. They are very easy to market because so many hacks have happened lately and they offer quality security to those firms. There stock should continue to rise in the coming weeks.
ReplyDeleteWith all of our personal information on the cloud and in databases across the USA and world, hacking into accounts has never been more of a threat. I would expect to see a heavy increase in the technology sector but with that said, if companies continue to get hacked, consumer spending could down and more people will start paying in cash. We need to get these new credit cards that Europe has as soon as possible because the threat of another hack is right around the corner.
ReplyDeleteThis is a huge topic nowadays with all the technology around us today. The next big terrorist threat could be through a hack. Everybody's personal data and information is stored on a computer and if that information gets in the wrong set of hands then there could be quite a big threat to national security. It's no surprise that CyberArk is on the rise. Our generation is the most technological advanced out of any generation so there is going to be a huge demand for cyber security.
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