Does CyberArk (CYBR) have what it takes to be a top stock pick for momentum investors? Let's find out.
CYBR's company Venafi enhances its Control Plane for Machine Identities product with added security and cloud features.
The latest trading day saw CyberArk (CYBR) settling at $274.36, representing a -1.91% change from its previous close.
Here is how CyberArk (CYBR) and Arteris, Inc. (AIP) have performed compared to their sector so far this year.
CyberArk is up 192% since our initiation with a buy rating in mid-2020, outperforming the S&P 500 comfortably. We maintain our buy here. We expect continued ARR growth as CyberArk consolidates higher identity spending, and see room for top-line expansion from the upselling and cross-selling new solutions. Additionally, CyberArk's acquisition of Venafi should enhance its position in the identity security market, further solidifying its dominance.
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CyberArk Software Ltd CYBR appears poised to "consolidate identity spending and maintain durable and increasingly profitable growth," according to RBC Capital Markets analyst Matthew Hedberg.
CyberArk (CYBR) concluded the recent trading session at $271.23, signifying a +1.19% move from its prior day's close.
CyberArk (CYBR) closed at $271.53 in the latest trading session, marking a -0.45% move from the prior day.
CyberArk's expanding partner base aids its top line. However, softening IT spending by enterprise customers is a major concern.
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
CyberArk (CYBR) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.