The July consumer price index reading indicated cooling inflation and July retail sales addressed investors' fears about an economic slowdown. They also boosted hopes of an interest rate cut at the Federal Reserve's upcoming meeting in September.
The analyst also noted that Monday.com expects its net dollar retention rate to remain stable at about 110% through fiscal 2024, with management projecting a modest upside by the end of the year. Kothari noted that CYBR's workforce identity and machine identity solutions are emerging as major growth catalysts. He believes that the stock's premium valuation compared to peers is justified, given"the shift to recurring revenues and CYBR's position as a market leader."
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