Wedbush analyst Daniel Ives maintains $CyberArk (CYBR.US)$ with a buy rating, and adjusts the target price from $300 to $325.
According to TipRanks data, the analyst has a success rate of 52.3% and a total average return of 1.9% 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 stayed in line with recent trends, which, while not poor, represent roughly half the rate seen in 'normal' times. It is also suggested that investor expectations regarding the growth in IT spending might be excessively positive, considering that current expenditures may indicate an adjustment period following previous excess spending. CyberArk is positioned favorably for the year ahead.
Elevated confidence in the company's growth prospects through 2025 is noted, particularly due to the heightened focus on cybersecurity amid an expanding threat landscape. The advent of AI, which contributes to more complex malware, underscores the importance for Chief Information Officers and Chief Information Security Officers to prioritize the protection of identities, given the increased challenges and complexities faced by 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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