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Symantec Unveils New Technology to Counter Cyber Attacks

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Symantec Corp recently introduced its new technology — Email Threat Isolation — in a bid to counter advanced cyber-attacks in a more innovative and effective way.

Reportedly, this technology will protect devices against spear phishing, credential theft, account takeover and ransomware attacks.

Email Threat Isolation quickly detects malicious content and links from emails and quarantines them, substantially reducing the immanent risks of messaging applications.

Notably, malware attacks have increased 36% in the past year with spear phishing rising 55%. One in every six spam emails contain malicious links and about 30% of users open these emails. Also, 40% of U.S. citizens were affected by cyber security issue last year.

The growing sophistication of phishing activities is making it difficult to trace fingerprints of the attackers. It is to address this issue that Symantec dedicatedly worked on and came up with the integrated Email Threat Isolation solution.

Symantec, the Cybersecurity Guru

Symantec is the pioneer of complete and integrated email security solutions with threat isolation technology for enterprise email. It is currently the only vendor to offer innovative solutions to protect customers from today’s cloud generation email attacks.

The company’s Integrated Cyber Defense Platform has recently been enhanced with the first ever Web Isolation technology, which is incorporated in Symantec’s Web Security Service. The service provides protection against cyber threats while browsing.

Symantec is a notable player in the endpoint security market. The growing security threats and potential hacking attacks led the company to launch Symantec Managed Security Services - Advanced Threat Protection to help organizations assess the level of vulnerabilities, detect threats and mitigate intellectual property theft.

The company’s Integrated Cyber Defense platform gained traction with continued adoption in the final quarter of fiscal 2018.

Prospects are Bright

The Internet security market is an attractive space because of the increasing online traffic.

Hardware and software functionality including segments like firewalls, VPNs, intrusion prevention and detection and multi-purpose security known as unified threat management, are expected to boost Symantec’s presence in the cybersecurity market.

Per a recent report from Markets and Markets, cyber security market is expected to witness a CAGR of 11% between 2017 and 2022. The increase in security spending is therefore likely to bode well for this leading vendor of solutions.

Given the nature of its importance, the new platform is expected to boost the company’s top-line growth.

Zacks Rank and Stocks to Consider

Symantec currently carries a Zacks Rank #3 (Hold).

Some stocks worth considering in the broader Computer and Technology sector are Adobe (ADBE - Free Report) , YY (YY - Free Report) , and Verint (VRNT - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for Adobe, YY and Verint is projected to be 16.20%, 26.43% and 10%, respectively.

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