CyberArk initiated with a Positive at Susquehanna

Susquehanna analyst Shyam Patil initiated coverage of CyberArk with a Positive rating and $255 price target. Within the broader software universe, the firm is “bullish” on the cybersecurity software space as it see cyber budgets and use cases continuing to grow given “an ever-evolving threat landscape, internal and external innovation, and requirements from both regulators and insurers,” the analyst tells investors.