CyberArk initiated with an Overweight at Stephens

Stephens analyst Todd Weller initiated coverage of CyberArk (CYBR) with an Overweight rating and $440 price target The firm views identity security as “one of the most attractive secular growth areas in security” and believes that CyberArk is one of the leaders in driving the move towards converged identity security platforms, the analyst tells investors. CyberArk’s strong position in the PAM segment of the market, combined with its expanded capabilities in other areas, position the company well to benefit from the move to converged identity security platforms, the analyst argues.