According to Zacks, “CyberArk is benefiting from growing adoption of its solutions, which is helping it win deals. Increasing demand for privileged access security on the back of digital transformation and cloud migration strategies is a key growth driver. Strong revenue growth across the Americas, EMEA and APJ is benefiting its top line. Estimates have been stable ahead of the company’s first-quarter earnings release. Over the recent quarter, it pulled off positive earnings surprises. Shares have outperformed the industry in the past year. However, increasing OpEx due to various improvement initiatives are expected to hurt the bottom line in the near term. Near-term prospects for CyberArk are not promising as changing customer spending behavior has recently hit several other players in this space. An increase in costs due to seasonal employee expenses and the marquee Americas customer event is expected to be an overhang in the last quarter of this year.”
CYBR has been the topic of several other reports. BidaskClub upgraded Cyberark Software from a buy rating to a strong-buy rating in a research note on Wednesday, January 2nd. Wedbush increased their target price on Cyberark Software from $95.00 to $130.00 and gave the company an outperform rating in a research note on Friday, February 15th. Morgan Stanley set a $126.00 target price on Cyberark Software and gave the company a buy rating in a research note on Friday, February 15th. Goldman Sachs Group downgraded Cyberark Software from a buy rating to a neutral rating and cut their target price for the company from $86.00 to $78.00 in a research note on Friday, January 4th. Finally, Deutsche Bank upgraded Cyberark Software from a hold rating to a buy rating in a research note on Wednesday, December 26th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $91.36.
Cyberark Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.30. The company had revenue of $109.10 million for the quarter, compared to the consensus estimate of $95.94 million. Cyberark Software had a return on equity of 12.24% and a net margin of 13.72%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, analysts forecast that Cyberark Software will post 1.11 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in CYBR. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cyberark Software by 0.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,042 shares of the technology company’s stock valued at $2,672,000 after acquiring an additional 261 shares during the period. Creative Planning raised its holdings in Cyberark Software by 16.0% during the fourth quarter. Creative Planning now owns 3,257 shares of the technology company’s stock valued at $241,000 after acquiring an additional 450 shares during the period. Valeo Financial Advisors LLC raised its holdings in Cyberark Software by 910.0% during the first quarter. Valeo Financial Advisors LLC now owns 505 shares of the technology company’s stock valued at $60,000 after acquiring an additional 455 shares during the period. Cerebellum GP LLC bought a new stake in Cyberark Software during the fourth quarter valued at about $41,000. Finally, Optimum Investment Advisors bought a new stake in Cyberark Software during the fourth quarter valued at about $44,000. 77.52% of the stock is currently owned by institutional investors.
About Cyberark Software
CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.
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