Why This CyberArk Software Analyst Recommends Buying The Stock

Shares of CyberArk Software Ltd (NASDAQ: CYBR) rose in early trading on Friday.

The company is a clear leader in the Privileged Access Management (PAM) market, which is the most critical part of identity security, according to DA Davidson.

The CyberArk Software Analyst: Rudy Kessinger initiated coverage of CyberArk Software with a Buy rating and a price target of $175.

The CyberArk Software Thesis: The company offers the most comprehensive identity security platform, which drives strong cross-selling, Kessinger said in the initiation note.

Check out other analyst stock ratings.

“The blurring of the lines between PAM, IAM, & IGA has led to some consolidation within the fragmented market, but we believe CYBR offers the most holistic platform as the only vendor with leading (per Gartner) solutions in two of the three pillars of identity (PAM & IAM),” the analyst wrote.

CyberArk Software’s significant enterprise presence will enable the company “to weather the worsening macro backdrop well relative to peers,” he added.

CYBR Price Action: Shares of CyberArk Software are down by 0.91% to $132.07 at the time of publication Friday.

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