Stephens Prefers These Software Security Stocks: CrowdStrike, CyberArk, KnowBe4, Okta, Zscaler - Read Why

Stephens analyst Brian Colley initiated coverage on five security software companies. Colley initiated CrowdStrike Holdings, Inc (NASDAQ:CRWD) with an Overweight and a $232 price target (47.4% upside).
Colley saw the comprehensive and expanding product offering opening a large growing TAM with meaningful upsell/cross-sell opportunities.
He saw a sizable underpenetrated opportunity in the cloud security market.
Colley initiated CyberArk Software Ltd (NASDAQ:CYBR) with an Overweight and a $170 price target (22.7% upside).
CyberArk was positioned to serve as a broader identity security platform whose subscription transition is complete, with sales growth and profitability poised to accelerate in 2023.
Colley initiated KnowBe4, Inc (NASDAQ:KNBE) with an Overweight and $25 price target (49.7% upside).
Colley is optimistic about KnowBe4's "sizable and expanding" total addressable market, its underpenetrated market opportunity, and its multiple growth drivers.
Colley initiated Okta, Inc (NASDAQ:OKTA) with an Overweight and $145 price target (75.1% upside).
Colley is optimistic about the company building the most comprehensive identity platform on the market and expects it to be a key beneficiary of cloud and Zero Trust adoption.
Colley initiated coverage of Zscaler, Inc (NASDAQ:ZS) with an Overweight and $200 price target (38.9% upside), calling it "a leader in Cloud Security and Zero Trust with a distinct architecture and unmatched scale."
Price Action: CRWD shares traded higher by 8.01% at $158.26 on the last check Thursday.

CRWDCrowdStrike Holdings Inc

$591.50-0.43%

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