Cantor Fitzgerald Starts CyberArk Software (CYBR) at Overweight

Cantor Fitzgerald analyst Jonathan Ruykhaver initiates coverage on CyberArk Software (NASDAQ: CYBR) with a Overweight rating and a price target of $180.00.

The analyst comments "The increasing sophistication of bad actors and advent of cloud are highlighting the deficiencies of traditional security architectures and the increasing need for technologies that identify and limit the scope of cyberattacks. We view PAM as an increasingly critical layer of security given the importance of identity/access to today’s enterprise and the ability of bad actors to leverage privileged credentials to wreak real damage. We believe recent cyber events in SUNBURST, Microsoft Exchange Server, LOG4J and LAPSUS$ highlight the need for effective PAM, especially given these breaches appear they would have been nearly impossible to stop using prevention oriented technologies alone."

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 $142.50 yesterday.

You May Also Be Interested In

• META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
• CyberArk Software (CYBR) Launches UAE-Hosted Identity Security Platform to Help Secure Identities and Meet Data Sovereignty Requirements
• TechnipFMC (FTI) PT Raised to $30 at BTIG