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'We See Room For Further Outperformance': CyberArk Analysts Bullish After Q4 Earnings Beat

Brett Hershman

Analysts are raving about Cyberark Software Ltd (NASDAQ: CYBR)'s record fourth-quarter earnings beat Thursday.

Morgan Stanley: 'We See Room For Further Outperformance' 

CyberArk is executing on an increasingly favorable market opportunity and competitive landscape, analyst Melissa Franchi said in a Friday note. 

“With new initiatives such as bundling and the new cloud offerings relatively nascent and with the competitive environment continuing to be favorable, we see room for further outperformance through FY19, despite more difficult compares," the analyst said. 

Franchi said she sees a path to 20-percent top-line growth coupled with modest improvements to its already industry-leading margins to drive a 25-percent free cash flow CAGR over a multiyear period, Franchi said. 

Morgan Stanley maintained an Overweight rating and raised the price target from $96 to $126.

UBS: Quarterly Print Not What Bulls Were Expecting 

CyberArk’s Q4 was “not even what the bulls were expecting," analyst Fatima Boolani said in a Thursday note. 

“While budget flushes helped, we think distracted competitors, a simpler packaged-based sales motion and a more cohesive sales organization were the real drivers of outperformance and strong deal momentum," the analyst said. 

Boolani said the company now has to contend with much tougher comps and said that while she is still bullish on underlying fundamentals, another round of meaningful upward estimate revisions are necessary for the stock to move higher.

View more earnings on CYBR

UBS maintains a Buy rating and raised its price target from $90 to $119.

Wedbush: CyberArk Closes 2018 Like Mayweather

CyberArk closed out 2018 like Floyd Mayweather, beating street expectations and delivering robust guidance, analyst Daniel Ives said in a Friday note. 

“In a nutshell, yesterday's results along with our continued robust checks gave us increased confidence in CYBR's strong product portfolio and leadership position in the PAM market, which is still in the very early days of playing out." 

Wedbush maintained an Outperform rating and raised the price target from $95 to $130.

CyberArk shares were down 3.11 percent at $100.82 at the time of publication Friday. 

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Latest Ratings for CYBR

Date Firm Action From To
Jan 2019 Goldman Sachs Downgrades Buy Neutral
Dec 2018 Deutsche Bank Upgrades Hold Buy
Dec 2018 Guggenheim Initiates Coverage On Buy

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