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.”
A number of other research analysts have also weighed in on CYBR. Barclays raised their price objective on Cyberark Software from $112.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday. Wedbush raised their price objective on Cyberark Software to $140.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Mizuho began coverage on Cyberark Software in a research report on Tuesday, March 26th. They set a “buy” rating and a $135.00 price objective for the company. FBN Securities began coverage on Cyberark Software in a research report on Tuesday, March 19th. They set an “outperform” rating and a $130.00 price objective for the company. Finally, BidaskClub upgraded Cyberark Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.36.
Cyberark Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 14th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.30. Cyberark Software had a return on equity of 12.24% and a net margin of 13.72%. The business had revenue of $109.10 million during the quarter, compared to analyst estimates of $95.94 million. During the same quarter in the prior year, the business posted $0.41 EPS. Cyberark Software’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities analysts anticipate that Cyberark Software will post 1.11 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pratt Collard Advisory Partners LLC lifted its stake in Cyberark Software by 73.3% in the first quarter. Pratt Collard Advisory Partners LLC now owns 5,200 shares of the technology company’s stock worth $619,000 after purchasing an additional 2,200 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in Cyberark Software by 190.3% in the first quarter. Hodges Capital Management Inc. now owns 59,443 shares of the technology company’s stock worth $7,077,000 after purchasing an additional 38,965 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Cyberark Software by 910.0% in the first quarter. Valeo Financial Advisors LLC now owns 505 shares of the technology company’s stock worth $60,000 after purchasing an additional 455 shares during the last quarter. Manning & Napier Group LLC bought a new stake in Cyberark Software in the first quarter worth about $8,083,000. Finally, Tibra Equities Europe Ltd bought a new stake in Cyberark Software in the first quarter worth about $3,864,000. 77.52% of the stock is owned by institutional investors and hedge funds.
Cyberark Software Company Profile
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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