Oppenheimer Starts CyberArk Software (CYBR) at Outperform

Oppenheimer initiates coverage on CyberArk Software (NASDAQ: CYBR) with a Outperform rating and a price target of $38.00.

Analyst Shaul Eyal said, "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."

For an analyst ratings summary and ratings history on CyberArk Software click here. For more ratings news on CyberArk Software click here.

Shares of CyberArk Software closed at $30.29 yesterday.

You May Also Be Interested In

• GameSquare Holdings Inc (GAME) PT Lowered to $5 at Roth/MKM
• Citi Downgrades UBS AG (UBSG:SW) (UBS) to Neutral
• HSBC Starts Auna SA (AUNA) at Buy, 'Just what the doctor prescribed'