Summit Research analysts have upgraded Cyberark Software Ltd. (NASDAQ:CYBR) stock from Hold to Buy, based on strength in cyber-security spending. The overhang on several industry stocks was lifted last week, especially after Bangladesh Bank suffered a cyber-attack, which depicts demand for the online security solutions.
CYBR shares have slipped almost 15% since the start of fiscal year 2016 (FY16), primarily due to the industry-wide weakness and growing competition in the online threat-detection market. The research firm believes that the ongoing sell-off has created a lucrative entry point for investors. The analysts expect the overall industry spending to remain strong in the near term, as more customer look to secure their “privileged accounts.” For the full article click here
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