Evercore ISI analyst Kenneth Talanian maintained a Buy rating on CyberArk (CYBR) on November 8 and set a price target of $96. The company’s shares closed on Friday at $77.33, close to its 52-week high of $84.21.
Talanian noted:
“We Got The Beat…We Got The Beat. PT to $96 We continue to believe CYBR’s financial profile offers an investment profile with a margin of safety typically not found at a company at this scale and growth level. We believe the current level of execution along with further upside from cross-selling/up-selling and continued partner/channel leverage as well as secular expansion opportunities could drive both growth and profitability higher than expectations. We are raising our PT to $96 from $87 prior. Remain Outperform rated. See additional thoughts below. CYBR reported strong 3Q18 results across all metrics with total revenue notably ~$6M ahead of our prior estimate. As we saw last quarter the revenue beat more than flowed through to non-GAAP operating income which came in ~$9M higher than our prior estimate.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 13.9% and a 65.7% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.
CyberArk has an analyst consensus of Strong Buy, with a price target consensus of $90.45, which is a 17.0% upside from current levels. In a report issued on November 8, Oppenheimer also assigned a Buy rating to the stock with a $89 price target.
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Based on CyberArk’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.09 million. In comparison, last year the company had a net profit of $1.68 million.
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CyberArk Software Ltd. engages in the development, market, and sale of access security software solutions. It operates through the following geographical segments: United States; Israel; United Kingdom; Europe, the Middle East and Africa; and Other.
