FireEye, Inc. (FEYE - Free Report) recently unveiled three solutions, namely FireEye Market, Expertise On-Demand and Mandiant Incident Response Retainers, which offer a community-based approach to combat cyber-attacks more efficiently.
The new solutions encourage enterprises to work together as a unit against cyber threats, rendering shared access to free tools, knowledge, FireEye expertise and on-demand services.
The FireEye Market, an extension of the company’s Helix platform, features an intuitive user interface simplifying the process of browsing and searching all the content in one place. FireEye aims at motivating and allowing customers plus partners to chip in their contributions to The FireEye Market in order to improve and upgrade the platform.
With Expertise On-Demand, FireEye will enable the enterprise customers’ access to a community of FireEye experts as and when required, there eliminating the need to hire full-time cybersecurity staff.
The FireEye Mandiant Incident Response Retainer enables Mandiant services professionals to always be on standby, thus helping enterprises cut down on the cost of maintaining an in-house response team. In the event of security breach, an existing retainer can significantly reduce response time and the impact of the attack.
Higher Demand for Security Boosts Growth
Cyber security has become a mission-critical, high-profile requirement, given the growing exposure of enterprises to sophisticated cyber threats. Per a Markets and Markets report, worldwide cyber security spending will reach $101 billion in 2018 and $170 billion by 2020.
While rising cyber-attacks do not bode well for most organizations, firms operating in the cybersecurity space are positioned to benefit immensely. One such company is FireEye, which has been making a significant progress by capitalizing on this opportunity on the back of its powerful technology and expertise.
The company recently came under the spotlight for its role in exposing fake accounts on Facebook (FB - Free Report) and Twitter (TWTR - Free Report) , which were being used to propagate Iranian political interests. It is also benefiting from its Network and Email Security products as well as a revamped pricing policy.
FireEye also helped Alphabet's (GOOGL - Free Report) Google in identifying and disabling suspicious accounts.
Going ahead, a healthy security market, a strong product line-up and deal wins position the company well for long-term growth.
FireEye currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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