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Cyberark Software Is Surging On An Upgrade From William Blair

Cyberark Software Is Surging On An Upgrade From William Blair

Shares of Cyberark Software Ltd (NASDAQ: CYBR) soared over 13 percent Tuesday amid an upgrade to Outperform by William Blair.

Analysts Jonathan Ho and John Weidemoyer believed the company will benefit from increased spending for cybersecurity which should lead the company to deliver results that are ahead of expectations.

The upgrade was based on valuation as the stock has pulled back “to more reasonable levels” in addition to strong demand for protection against security breaches.

Related Link: Cybersecurity Stocks That Moved After The CENTCOM Twitter Attack

Ho forecasted that Q4 revenue would come in at $27.0 million and proforma earnings at $0.04, $0.01 below consensus. The company will report Q4 earnings on February 12 after the market close.

On the earnings call, the analysts will be looking for details on the 2015 outlook, the adoption rate and awareness of identity management, up-sell opportunities and details on the demand for cybersecurity.

The analyst note concluded that CyberArk is “well positioned to benefit from growing adoption and awareness of the value proposition of privileged threat analytics.”

Cyberark Software Ltd recently traded at $40.68, up 12.72 percent.

Image credit: Public Domain

Latest Ratings for CYBR

Nov 2019Initiates Coverage OnNeutral
Nov 2019MaintainsEqual-Weight
Nov 2019MaintainsOverweight

View More Analyst Ratings for CYBR
View the Latest Analyst Ratings

Posted-In: John Weidemoyer Jonathan Ho William BlairAnalyst Color Long Ideas Upgrades Analyst Ratings Trading Ideas Best of Benzinga


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