Guggenheim initiates coverage on Cyberark Software (NASDAQ:CYBR) with a Buy rating and price target of $200, implying 16% upside potential.
The research house sees Cyberark (CYBR) as a premier cybersecurity vendor, converging identity and access management functionality into a complete platform.
The analyst views CyberArk (CYBR) as a unique asset with an underappreciated market opportunity, which should drive sustainable and durable revenue and cash flow growth for years to come. It is expected that CyberArk (CYBR) could benefit from the demand for an IAM platform that consolidates functionality.
The share price is currently $169.85, with a market capitalization of $7.04B.
