CyberArk distances itself from FireEye as stock takes a beating

New York

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 Mad Money - after peer FireEye Inc said a lull in attacks and a US-China deal to ban cyber espionage were partly to blame for disappointing earnings. Its shares tanked 23 per cent the next day, dragging CyberArk and others down with it.