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KnowBe4 (KNBE) Receives a Buy from Needham

Needham analyst Alex Henderson maintained a Buy rating on KnowBe4 (KNBEResearch Report) today and set a price target of $24.00. The company’s shares opened today at $21.66.

According to TipRanks, Henderson is a 5-star analyst with an average return of 17.1% and a 54.50% success rate. Henderson covers the Technology sector, focusing on stocks such as Ceragon Networks, Viavi Solutions, and Ciena.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for KnowBe4 with a $24.13 average price target, an 11.40% upside from current levels. In a report released today, Stephens also maintained a Buy rating on the stock with a $24.00 price target.

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Based on KnowBe4’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $80.76 million and a net profit of $3.35 million. In comparison, last year the company earned a revenue of $59.35 million and had a GAAP net loss of $16.86 million

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KnowBe4 Inc has created a security awareness framework that allows businesses to assess, track, and mitigate the ongoing threat of social engineering attacks to their cybersecurity. Security Awareness, Security Orchestration, Automation and Response, Governance, Risk, and Compliance are among the features of its platform. The company derives its revenue from subscription services fees paid by customers for access to its cloud-based platform and content.

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