Oppenheimer Initiates Outperform On CyberArk Software; Sees 27% Upside
In a research report issued today, Oppenheimer analyst Shaul Eyal initiated Outperform rating on CyberArk Software (NASDAQ:CYBR) with a price target of $38, which represents a potential upside of 27% from where the stock is currently trading.
Eyal noted, “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.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Shaul Eyal has a total average return of 5.4% and a 58.2% success rate. Eyal is ranked #620 out of 3354 analysts.