UPDATE: Goldman Sachs Starts KnowBe4 Inc. (KNBE) at Buy
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Goldman Sachs analyst Brian Essex initiates coverage on KnowBe4 Inc. (NASDAQ: KNBE) with a Buy rating and a price target of $25.00.
The analyst comments "Social engineering remains a critical vector of enterprise vulnerability. Attack surfaces have expanded and exposure has accelerated as many users, data, and devices have migrated outside of traditional enterprise network perimeters. Meanwhile, we have seen an acceleration of spending on technology to address Network, Identity, and Endpoint security as enterprises have focused on protecting users and the networks, applications, and data they access. However, spending to address social engineering continues to lag the rest of the market while it remains a significant threat. We view KnowBe4 as the best positioned vendor in the market to address this threat. With the stock currently trading at 14.8x EV/NTM Sales (as of 5/14), and potential upside to the 26% 2 year sales CAGR reflected in our forecast, we see several levers for upside to current levels for the stock. Our $25 price target implies 34% upside to the current share price, compared to average upside of 23% for our Security Software coverage. KNBE is scheduled to deliver its first earnings report as a public company after market close on May 19th."
Shares of KnowBe4 Inc. closed at $18.69 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesGoldman Sachs, Earnings
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