Deutsche Bank Initiates Hold On CyberArk Software Shares, $30 PT
In a research report issued Monday, Deutsche Bank analyst Karl Keirstead initiated coverage on CyberArk Software (NASDAQ:CYBR) with a Hold rating and a $30 price target.
Keirstead noted, “We launch coverage of CyberArk shares with a Hold and a $30 TP, roughly at the current share price. At 9x 2015 EV/Sales, the stock is trading at the high end of its peer group, and the risk/reward is balanced. CyberArk, the leading provider of security solutions to protect privileged account credentials, completed its IPO in September 2014 at $16/share and the stock has almost doubled since. Over the same time period, the S&P was down 6%.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Karl Keirstead has a total average return of 0.8% and a 50.0% success rate. Keirstead is ranked #1733 out of 3354 analysts.