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CyberArk Distances Itself From FireEye as Stock Takes a Beating

  • CyberArk now down 2% this year after rallying as much as 86%

Try telling investors a dearth of high-profile data breaches won’t hurt security software companies bent on eliminating cyber threats.

That’s exactly what Udi Mokady, the 47-year-old chief executive of CyberArk Software Ltd. relayed in meetings in New York and San Francisco last week -- as well as on CNBC’s

-- after peer FireEye Inc. said a lull in attacks and a U.S.-China deal to ban cyber espionage were partly to blame for disappointing earnings. Its shares tumbled 23 percent the next day, dragging CyberArk and others down with it.

It was hacker assaults on JPMorgan Chase & Co. and Apple Inc. that helped drive up valuations of data security companies. CyberArk, which has been public just a little over a year and whose stock more than tripled in value through mid-June, is now having to convince shareholders it’s no FireEye.

“That is totally not the case in our world,” Mokady said by phone from San Francisco Nov. 12. “It’s not our business model -- our model is to put in private account security ahead of time, and we’re seeing increased demand, increased awareness of that.”

Mokady’s pitch is that CyberArk -- whose customers include banks, healthcare companies and manufacturers -- is focused on privileged account management, a...