Fly News Breaks for February 13, 2020
Feb 13, 2020 | 06:21 EDT
Needham analyst Alex Henderson downgraded CyberArk to Hold from Buy, saying that while the company posted a "solid" quarter with in-line revenue guidance, its margin outlook is "well below" expectations given its plans for accelerated investments targeting build out of infrastructure and sales. The analyst contends that the plans are an "expensive proposition", while the timing of revenue acceleration is not apparent. Henderson remains positive on CyberArk's position as the dominant vendor in on-premise privileged access management, or PAM, but believes that the company needs to work through its transition to subscriptions and address the more competitive landscape.
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