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Cyberark Software Ltd (NASDAQ: CYBR) shares are up 3.4 percent in Friday's pre-market trading after Wells Fargo analyst Gray Powell upgraded the stock to Outperform from Market Perform.
Powell holds a valuation range target of $70 to $73 on the stock -- upside of more than 20 percent.
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Outlets citing the report say the analyst is bullish on Cyberark's billings and sales growth versus competitors, along with a market environment paying more attention to security issues.
In a recent barrage of notes, analysts disagreed on the company's future. William Blair likes Cyberark's execution, while O'Neil Equity Research thinks it's "well-positioned" against peers. J.P. Morgan, however, maintains an Underweight rating on Cyberark due to increased competition from CA, Inc. (NASDAQ: CA).
Peer Play
According to a recent interview with PureFunds CEO Andrew Chanin, Cyberark's closest comparable peer may be newly-IPOed Rapid7 Inc (NASDAQ: RPD). Both stocks offer investors small-cap ways to play a space expected to growth at a Compound Annual Growth Rate near 10 percent over the next five years.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.