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TOKYO/NEWTON - Panasonic Information Systems Co. Ltd. has deployed the CyberArk Identity Security Platform to secure privileged access across thousands of servers throughout the Panasonic Group, according to a press release statement from CyberArk (NASDAQ:CYBR). The identity security provider, currently valued at nearly $20 billion, has demonstrated impressive growth with revenue increasing 35% over the last twelve months and maintaining strong gross profit margins of 78%.
The implementation is part of Panasonic’s digital transformation initiative, which aims to modernize the company’s approach to privileged access management. Previously, Panasonic Information Systems relied on manual processes for managing privileged access across its Windows and Linux servers, with limited visibility into access requests and approvals. According to InvestingPro, CyberArk’s strong market position is reflected in its impressive 52% return over the past year, with analysts maintaining a strong buy consensus.
With the new system, Panasonic Information Systems has centralized and automated the granting of privileged access. The company now maintains visibility into server access activities, including who accessed which server, when access occurred, and what operations were performed.
"One of the key priorities of our digital transformation is strengthening our security defenses globally," said Hiroshi Yagi, Director, Professional Services Department, Platform Services Division at Panasonic Information Systems Co., Ltd.
The CyberArk Privileged Access Manager implementation provides an audit trail for improved post-incident investigations. The system also automatically manages credentials and passwords, keeping them hidden from users while handling rotation within the platform.
Panasonic Information Systems drives IT strategy for the Panasonic Group and oversees information systems across its business operations in retail, distribution, and manufacturing.
CyberArk, headquartered in Newton, Massachusetts and Petach Tikva, Israel, specializes in identity security solutions for enterprises. Based on InvestingPro analysis, the company appears overvalued at current levels, trading near its 52-week high of $421. Subscribers can access 12 additional ProTips and a comprehensive Pro Research Report for deeper insights into CyberArk’s financial health and growth prospects.
In other recent news, CyberArk Software has announced its intention to issue $750 million of 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. This move has raised concerns among investors, contributing to a decline in the company’s stock. The notes will be convertible into cash, ordinary shares, or a combination thereof, with conditions set for conversion and redemption. Proceeds from this offering are intended for general corporate purposes, including potential acquisitions, though no specific commitments have been made.
Additionally, Jefferies has raised its price target for CyberArk to $480, maintaining a Buy rating, citing the company’s strong positioning and potential for growth in Annual Recurring Revenue (ARR). DA Davidson also increased its price target for CyberArk to $465, highlighting positive management commentary and potential upside against 2025 ARR guidance. Meanwhile, Truist Securities reaffirmed its Buy rating on SailPoint Technologies, maintaining a $29 target, and noted the company’s strong performance in large, complex environments. These developments reflect ongoing confidence in CyberArk and SailPoint’s market positions.
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