Stephens analyst Brian Colley initiated coverage on five security software companies. Colley initiated CrowdStrike Holdings, Inc (NASDAQ: CRWD) with an Overweight and a $232 price target (47.4% upside).
Colley saw the comprehensive and expanding product offering opening a large growing TAM with meaningful upsell/cross-sell opportunities.
He saw a sizable underpenetrated opportunity in the cloud security market.
CyberArk was positioned to serve as a broader identity security platform whose subscription transition is complete, with sales growth and profitability poised to accelerate in 2023.
Colley is optimistic about KnowBe4's "sizable and expanding" total addressable market, its underpenetrated market opportunity, and its multiple growth drivers.
Colley is optimistic about the company building the most comprehensive identity platform on the market and expects it to be a key beneficiary of cloud and Zero Trust adoption.
Colley initiated coverage of Zscaler, Inc (NASDAQ: ZS) with an Overweight and $200 price target (38.9% upside), calling it "a leader in Cloud Security and Zero Trust with a distinct architecture and unmatched scale."
Price Action: CRWD shares traded higher by 8.01% at $158.26 on the last check Thursday.
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