FireEye (FEYE) Supports Fair Elections With New Solution

FireEye, Inc. FEYE recently launched a free election security public resource amid growing election security concerns around the world.

The resource features latest cybersecurity recommendations and informative materials from all over the world to technologically support free and fair elections. With this resource, FireEye will also enhance emergency management and responsive capabilities of governments with its free webinars, event information, threat intelligence and solutions in one place.

Cyber-led vote tampering, which continues to make headlines, is difficult to track due to the vast range of threats. Through FireEye’s resource, the company aims to make the election threat landscape more visible, while offering relevant solutions for organizations.

FireEye, Inc. Price and Consensus

FireEye, Inc. Price and Consensus

FireEye, Inc. price-consensus-chart | FireEye, Inc. Quote

Growing Importance of Election Security

Ever since the discovery of Russian interference in the 2016 U.S. presidential elections, the matter of election security has been thrust into the national spotlight. There are growing speculations that interference could take place this time as well.

A successful ransomware attack before an election could limit access to information and potentially undermine public confidence in the election itself, which is a major concern for governments.

The possibility of foreign hackers of not only targeting databases but trying to manipulate, disrupt or destroy the data is worrying U.S. intelligence officials.

Numerous unpassed election security bills, including the bipartisan Secure Elections Act, have been proposed in the Congress for years now.  Reportedly, the U.S. government is ramping up efforts to protect voter registration databases and systems from ransomware attacks ahead of the 2020 presidential election.

Notably, FireEye is focused on helping government entities and federal agencies stay updated on today’s cyber threats on elections, and what steps they can take to combat them. The new resource is built on the company’s existing FireEye Government Security branch, which aims to counter the evolving threats to mission critical government networks and critical infrastructure.

The fear of election security breaches had brought tech biggies like Facebook FB, Alphabet’s GOOGL Google, Microsoft MSFT and Twitter together to meet U.S. officials at Facebook's headquarters to discuss and plan security efforts for the elections last month. The meeting saw participants sharing their respective efforts, discussing potential threats and coming up with steps to improve planning and coordination.

This highlights the gravity of the situation and the importance of having a strong security tailored for elections. Notably, recently, majority Leader Mitch McConnell agreed on a $250 million budget for election security after having held up earlier legislation.

The new resource launched by FireEye to help governments address the issue of election security gives it an early bird advantage.

FireEye currently carries a Zacks Rank of #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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