CyberArk Software Will 'Maintain Profitable Growth,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
CyberArk Software Ltd (NASDAQ:CYBR) is expected to maintain profitable growth, according to RBC Capital Markets analyst Matthew Hedberg. The company reported strong Q2 results and has been given an Outperform rating with a $328 price target. The analyst highlights the importance of identity spending and sees potential growth in the core PAM market, especially with the Venafi acquisition.
September 20, 2024 | 3:20 pm
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CyberArk Software is expected to maintain profitable growth, supported by strong Q2 results and a positive outlook from RBC Capital Markets. The company's focus on identity spending and the Venafi acquisition are key growth drivers.
The analyst's Outperform rating and $328 price target suggest a positive outlook for CyberArk. The company's strong Q2 results and strategic focus on identity spending, along with the Venafi acquisition, are expected to drive growth. The market's positive reaction, with shares rising 1.31%, indicates investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100