Canaccord Genuity Initiates a Buy Rating on KnowBe4 (KNBE)
Canaccord Genuity analyst David Hynes initiated coverage with a Buy rating on KnowBe4 (KNBE) today and set a price target of $26.00. The company’s shares closed last Friday at $18.69, close to its 52-week low of $17.10.
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 28.5% and a 68.1% success rate. Hynes covers the Technology sector, focusing on stocks such as Qualtrics International, ZoomInfo Technologies, and BigCommerce Holdings.
KnowBe4 has an analyst consensus of Strong Buy, with a price target consensus of $23.33, which is a 28.9% upside from current levels. In a report issued on May 14, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $22.00 price target.
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Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KNBE in relation to earlier this year.
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KnowBe4 Inc has created a security awareness framework that allows businesses to assess, track, and mitigate the ongoing threat of social engineering attacks to their cybersecurity. Security Awareness, Security Orchestration, Automation and Response, Governance, Risk, and Compliance are among the features of its platform. The company derives its revenue from subscription services fees paid by customers for access to its cloud-based platform and content.