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UPDATE: Oppenheimer Initiates Coverage On CyberArk Software Ltd On Bullish Stance

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In a report published Monday, Oppenheimer analyst Shaul Eyal initiated coverage on CyberArk Software Ltd (NASDAQ: CYBR) with an Outperform rating and $38.00 price target.

In the report, Oppenheimer noted, “We initiate coverage of CYBR, a leading provider of privileged account management solutions, with an Outperform and $38 PT. Our bullish stance is driven by: 1) CYBR is a unique asset within the broader Identity and Access Management (IAM) space offering a comprehensive PAM platform rather than point solutions; 2) CYBR's market drivers such as the increase in compliance and regulation, enterprises' shift to cloud, mobility/BYOD should sustain revenue growth north of 20% over the coming years; 3) we believe the currently underpenetrated PAM market is seeing renewed momentum on the heels of events such as WikiLeaks, the Ed Snowden saga and recent network attacks; and 4) CYBR is a potential acquisition candidate.”

CyberArk Software Ltd closed on Friday at $30.29.

Latest Ratings for CYBR

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsOverweight
Sep 2020BarclaysUpgradesEqual-WeightOverweight
Aug 2020Morgan StanleyMaintainsOverweight

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Posted-In: Oppenheimer Shaul EyalAnalyst Color Initiation Analyst Ratings

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