Jefferies analyst Joseph Gallo maintains $CyberArk (CYBR.US)$ with a buy rating, and maintains the target price at $330.
According to TipRanks data, the analyst has a success rate of 67.1% and a total average return of 9.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $CyberArk (CYBR.US)$'s main analysts recently are as follows:
The IT spending climate has maintained a steady pace, which although not at its peak, is still at a reasonable half of 'normal' times. There is a sentiment that investor expectations regarding the growth in IT spending might be on the higher side, with the current expenditure indicative of an adjustment phase following a period of excess. CyberArk is perceived to be well-positioned for the upcoming year.
The firm's heightened confidence in the company's growth trajectory towards 2025 stems from the increased attention on the cybersecurity sector, given the expanding threat landscape. This is particularly pertinent with the advent of AI, which is leading to the creation of more sophisticated malware. Consequently, the protection of identities remains a top priority for CIOs and CISOs, who are facing escalated challenges and complexities across organizations.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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