TD Cowen Reiterates Buy Rating on CyberArk Software (CYBR)

TD Cowen analyst Shaul Eyal reiterated a Buy rating and $300.00 price target on CyberArk Software (NASDAQ: CYBR).

The analyst commented, "CYBR announced the acquisition of Venafi for an EV of ~$1.54B in a combo of cash ($1B) and stock (~$540M). Venafi is a leader in the machine identity arena which is likely to add $10B to CYBR's TAM, currently at $50B. Venafi is likely to add $150M of ARR and be accretive to margins instantly. If history is any guide, CYBR's strong M&A track record should serve it well with its largest acq ever."

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 $246.33 yesterday.

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