Buy Cyberark - on rising cybercrime during covid
Cybersecurity firm Fortinet rose 20% to record high yesterday after Q1, due to home office tailwind.
- Another stock in the space is Cyberark (CYBR), and is still 40% off the highs.
- Leader in protecting privileged account (admin acc) that holds key to all companies sensitive data, and is the target of most cyber attacks.
- No direct link to home office, but cybercrime has increased drastically since covid
- 2019 was record year, but they gave weak guidance.. which already tempered 2020 expectation (EPS estimated down24%)
- Q1 release is on May 13th..an upside surprise could lead significant re-rating of the stock
- Technically broke out of double bottom, target 120, then 140, stop at 94.90
- Another stock in the space is Cyberark (CYBR), and is still 40% off the highs.
- Leader in protecting privileged account (admin acc) that holds key to all companies sensitive data, and is the target of most cyber attacks.
- No direct link to home office, but cybercrime has increased drastically since covid
- 2019 was record year, but they gave weak guidance.. which already tempered 2020 expectation (EPS estimated down24%)
- Q1 release is on May 13th..an upside surprise could lead significant re-rating of the stock
- Technically broke out of double bottom, target 120, then 140, stop at 94.90