Proofpoint, Inc., PFPT recently launched a cloud-based ObserveIT Insider Threat Management (ITM) platform to bring a risk analysis setup that reduces risks, delivers a greater return on investment and offers a scalable approach for cybersecurity professionals.
The features of the platform include insider risk detection, accelerated incident response and broader unified visibility across user activity, data interaction and threat context.
Insider risk detection has been given special emphasis in the new platform. Management noted that more than 30% of data breaches happen through insiders. Moreover, per the Ponemon Institute, the average global cost of insider threats increased 31% in two years to $11.45 million. Insider data breach incidents jumped 47% in the same time frame.
Proofpoint’s platform gives organizations visibility into the whereabouts of critical data, who has access to it, and the capability to monitor whether the access is being abused.
The company’s integrated people-centric security approach addresses the challenges associated with protecting people and the critical data they work with.
Proofpoint, Inc. Price and Consensus
Proofpoint, Inc. price-consensus-chart | Proofpoint, Inc. Quote
Customer-Centric Operations & Strong Product Suite: Tailwinds
Proofpoint’s constant focus on improving and expanding its capabilities and offerings is noteworthy. The company reinvests about 20% of annual revenues in R&D, which is quite significant.
Notably, majority of Proofpoint’s offerings are adopted by Fortune 100, Fortune 1000 and Global 2000 companies.
Moreover, given the current security scenario, wherein enterprises are transitioning their workloads and data to the cloud, every point on the network is vulnerable to security breaches.
Focus on domains like cloud application security, information protection, deep threat intelligence, compliance, email authentication and employee training on security awareness are therefore important for companies to keep pace with the growing sophistication of cyberattacks.
Notably, continued enhancements across Proofpoint’s product portfolio cover all the aforementioned aspects.
Furthermore, increased interest in new archiving features like supervision, eDiscovery and analytics visualization, particularly from firms in regulated industries, such as healthcare and financial services, are driving demand for the company’s digital risk products.
Zacks Rank & Stocks to Consider
Proofpoint currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader technology sector are SYNNEX Corporation SNX, Fortinet, Inc. FTNT and Baozun Inc. BZUN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for SYNNEX, Fortinet and Baozun is currently pegged at 9.37%, 14% and 29%, respectively.
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