Cyberark Shares Rising Off Wells Fargo Upgrade: What You Need To Know
Cyberark Software Ltd (NASDAQ: CYBR) shares were up more than 3 percent in Friday's pre-market session 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.
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. JP Morgan, however, maintains an Underweight rating on Cyberark due to increased competition from CA, Inc. (NASDAQ: CA).
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.
Latest Ratings for CYBR
|Feb 2017||Stifel Nicolaus||Initiates Coverage On||Buy|
|Nov 2016||Imperial Capital||Upgrades||In-Line||Outperform|
|Sep 2016||Cowen & Co.||Initiates Coverage on||Market Perform|
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