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Fly News Breaks for January 14, 2020
Jan 14, 2020 | 07:26 EDT
DA Davidson analyst Andrew Nowinski initiated coverage of CyberArk with a Neutral rating and $125 price target. The analyst is positive on the company's "significant opportunity" to sell add-on solutions to its existing installed base and its low competitive threats, but believes that CyberArk needs to boost its recurring revenue to push valuation higher. Nowinski warns that the low recurring revenue may limit the company's multiple expansion and sees its current valuation accounting for present share gain opportunities.
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