BUZZ-CyberArk Software still has much more green field ahead - Wedbush

** Wedbush analysts hike PT on Israel-based cyber security software maker by $10 to $140; maintain “outperform” rating on the co and call it the “Zion” of Privileged Access Management (PAM) market

** Recent checks give brokerage more confidence that many enterprises are seriously looking at deploying PAM solutions provided by CYBR within their organizations over the next year

** PAM is a solution that helps organizations restrict privileged access within an existing active directory environment, which Wedbush believes is an under appreciated part of the cyber security landscape

** Given CYBR’s “sweet spot in the secular green field opportunity”, brokerage says its forecast for ~20 pct top-line growth over the next 2-3 years could prove to be conservative

** Wedbush says CYBR’s top 25 global customers have spent 7x their initial first purchase year, which on avg. was north of $1 mln and appears to be increasing steadily in the field

** Stock up marginally to touch a record high of $118 in light premarket trading

** Wall Street bullish on stock with 19 of the 23 brokerages rate the stock “buy” or higher and 4 “hold”; their median PT is $119

** CYBR up ~58 pct YTD, after surging 79 pct in 2018 (Reporting by Vibhuti Sharma in Bengaluru)