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Cyren (CYRN) Detects and Blocks WannaCry Ransomware Attack

Cyren issued a customer update today, assuring and reminding that its cloud security products provided protection from all known variants of the WannaCry ransomware attack. (Image source: InfoWorld)

In the wake of Friday’s global ransomware attack known as WannaCry, there has been understandable interest in cybersecurity companies all day. Among the gainers is Cyren (NASDAQ: CYRN), a company we highlighted in March when Snap (NYSE: SNAP) had its IPO. The question of whether or not Snap’s enormous valuation – eclipsing virtually all of small cap application software combined – is justified remains an item for further discussion, but we continue to believe that there are better values to be found at the microcap end if you’re searching for companies developing the next generation of software-as-a-service, cloud and mobile applications.

The company issued a customer update today assuring and reminding its customers and partners that they are protected from all WannaCry variants and were protected from the initial malware outbreak.

Source: Cyren Investor Presentation, Feb. 27, 2017

Cyren protects more than 600 million users against cyber attacks and data breaches through its cloud-based web security, email security, DNS security and cloud sandboxing solutions. The company offers enterprise-focused security-as-a-service solutions as well as embedded solutions for software and security providers such as Alphabet (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT) and Symantec (NASDAQ: SYMC). Cyren’s global cloud security platform processes more than 17 billion daily transactions and proactively blocks over 130 million threats each day.

The company has a blue chip customer base and has been growing slowly and steadily for the past couple of years. Cyren’s US headquarters is in McLean, Virginia, with R&D labs in Israel, Germany and Iceland. The company received a 2017 Cybersecurity Excellence Award in February in the Anti Malware category. The awards recognize companies, products and individuals that demonstrate excellence, innovation and leadership in information security.

Cyren will release its Q1 results tomorrow morning, May 16th, before the open, followed by a conference call at 10 am ET. Investors can dial the following numbers to access the call:

  • US: 1-877-397-0298
  • Israel: 1-80-925-8243
  • All other international: 1-719-325-4853

The call will be simultaneously webcast on the investor relations section of Cyren’s website.

The stock is up 15% in afternoon trading today, which puts the market cap at about $90 million. We’ll be listening to the Q1 earnings call for further clues, but the company appears to be well positioned in a world where increasing advances in technology will inevitably bring forth corresponding increases in security threats.

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