1006 ET - CyberArk Software is expected to see higher revenue growth and greater market share after Chinese state-sponsored hackers breached U.S. Treasury Department systems by overriding security controls from CyberArk rival BeyondTrust, Morgan Stanley analysts say in a research note. BeyondTrust is a major competitor to CyberArk in the privileged access management, or PAM, space, of which BeyondTrust has nearly 20% market share, the analysts say. They estimate the hack will provide a tailwind of up to 2 percentage points to CyberArk's annual recurring revenue growth over the next few years and position the company as the preferred PAM provider for the U.S. government. CyberArk rises 3.8% to $345.94. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 02, 2025 10:06 ET (15:06 GMT)
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