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In a report released today, Kenneth Talanian from Evercore ISI maintained a Buy rating on CyberArk (NASDAQ: CYBR), with a price target of $87. The company’s shares closed yesterday at $74.51, close to its 52-week high of $76.62.
Talanian observed:
“We continue to view CyberArk as a unique investment opportunity given the company’s growth and margin profile, especially considering that CyberArk offers considerably higher margins than many other software companies of a similar scale. Upon further review of our model we believe there is upside to our prior out-year operating margin estimates, and have raised our estimates accordingly. We believe it is reasonable (and potentially conservative) to assume that CyberArk reaches a level of S&M efficiency by F22 that is similar to the prior level seen in F15, as measured by the ratio of total billings to GAAP S&M expense. This analysis drives our F22 non-GAAP operating margin estimate from 26.3% to 27.5%, leading to a 5% raise to our F22 non-GAAP EPS estimate.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 18.7% and a 76.4% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CyberArk with a $75.78 average price target.
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Based on CyberArk’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.38 million. In comparison, last year the company had a net profit of $3.25 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.
