Cyngn Partners with Drata to Enhance Security Efforts and Pursue SOC 2 and ISO 27001 Certifications

Cyngn (CYN) has partnered with Drata to enhance its information security and pursue SOC 2 Type II and ISO 27001 certifications. The company has also introduced a bug bounty program, enlisted an independent auditor, and strengthened its data privacy and cybersecurity measures. Based on analyst forecasts, the average target price for CYN is $12.00 with a 29.87% upside from the current price. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

Cyngn Inc. (CYN) has announced a strategic partnership with Drata to bolster its information security measures and pursue SOC 2 Type II and ISO 27001 certifications. This move is part of a broader initiative to strengthen the company's cybersecurity posture and protect its data, systems, and customers [1].

The partnership involves Drata supporting Cyngn in its pursuit of the SOC 2 Type II and ISO 27001 certifications, which are recognized standards for security and privacy compliance. These certifications reflect Cyngn's commitment to maintaining high standards of security and privacy [1].

As part of this initiative, Cyngn has established a bug bounty program, inviting third-party researchers to responsibly report potential vulnerabilities. Recently, the program helped identify and resolve a minor configuration issue in a vendor-managed development environment, demonstrating its effectiveness [1].

Cyngn has also engaged Prescient Security as the independent auditor for both certifications and retained specialized legal counsel for data privacy and cybersecurity matters. Additionally, the company maintains cyber insurance as part of its layered risk management strategy [1].

Analyst forecasts indicate that the average target price for CYN is $12.00, suggesting a 29.87% upside from the current price. The average brokerage recommendation is 2.0, indicating an "Outperform" status [2].

References:
[1] https://www.cyngn.com/pr/cyngn-engages-drata-to-pursue-soc-2-and-iso-27001-compliance-as-part-of-broader-cybersecurity-program
[2] https://www.stocktitan.net/news/CYN/cyngn-engages-drata-to-pursue-soc-2-and-iso-27001-compliance-as-part-1h06ess84in3.html