In a note released Monday, Barclays analyst Saket Kalia initiated coverage of CyberArk Software Ltd CYBR with an Equal-weight rating and a $32 price target.
Kalia commented, "CYBR is a leader in the privileged account security space, with a thorough, well-integrated, and enterprise-ready solution." He added this should allow the company to participate in the 25-30 percent growth in privileged accounts. However, Kalia said at current levels investors would be better off looking for a more attractive entry point.
Shares of CyberArk Software were trading up slightly to $30.30 amid the initiation.
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