Friday, May 08, 2015 8:22:23 AM
May 8, 2015 7:22 AM
Oppenheimer analyst Shaul Eyal reiterated an Outperform rating and boosted its price target on CyberArk Software (NASDAQ: CYBR) to $70.00 (from $65.00) after "crushing" estimates in Q1. Eyal said the company is "kicking on all cylinders."
CYBR reported strong 1Q15 revenue/EPS metrics handily crushing consensus' estimate ($32.9M vs. $26.8M estimate, up 89% YoY) with a notable increase in license revenue of $20M (up 119% YoY). At the highest range of CYBR's elevated FY15 guidance, revenue should grow 34% YoY and we attribute this strong performance and outlook to: 1) Accelerating greenfield opportunities; 2) Customers' attraction to CYBR's suite rather than point solution approach; 3) Laser-focused execution; 4) Limited competition. We are raising our FY15 & FY16 estimates and our PT is raised to $70. Identity Access Management (IAM) is no longer the stepchild of the broader security arena and CYBR is currently the sole play in this quickly evolving market.
For FY15, the firm estimates are raised to $137.4M/$0.41 from $128.9M/$0.26. For FY16, estimates are raised to $169.0M/$0.58 from $158.9M/$0.37.
Shares of CyberArk Software closed at $61.47 yesterday.
Recent CYBR News
- CyberArk Launches Industry’s First Identity-Centric Secure Browser • Business Wire • 03/27/2024 12:27:00 PM
- CyberArk Named a Workforce Identity Platforms Leader by Independent Research Firm • Business Wire • 03/20/2024 01:46:00 PM
- CyberArk Achieves FedRAMP® High Authorization • Business Wire • 03/19/2024 12:27:00 PM
- Heng Leong Hang Implements CyberArk to Enhance Identity Security and Cybersecurity Capabilities Amidst Digital Transformation • Business Wire • 03/13/2024 01:15:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/07/2024 09:05:17 PM
- CyberArk’s Chris Moore Recognized as 2024 CRN® Channel Chief • Business Wire • 03/05/2024 01:27:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/16/2024 10:01:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/16/2024 09:22:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/16/2024 12:03:12 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 11:36:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 09:25:24 PM
- CyberArk Announces 2023 Global Partner of the Year Award Winners • Business Wire • 02/13/2024 01:26:00 PM
- CyberArk to Present at Upcoming Investor Conferences • Business Wire • 02/12/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 09:14:09 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/08/2024 09:03:24 PM
- Indiana University Health Strengthens Identity Security Controls with CyberArk • Business Wire • 02/08/2024 01:01:00 PM
- CyberArk Announces Strong Fourth Quarter and Full Year 2023 Results • Business Wire • 02/08/2024 12:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/18/2024 09:21:44 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/16/2024 01:42:01 PM
- CyberArk Appoints Eduarda Camacho as Chief Operating Officer • Business Wire • 01/16/2024 01:00:00 PM
- CyberArk to Announce Fourth Quarter and Year End 2023 Financial Results on February 8 • Business Wire • 01/04/2024 01:00:00 PM
- CyberArk Named an Overall Cloud Infrastructure Entitlement Management (CIEM) Leader by KuppingerCole Analysts • Business Wire • 12/20/2023 01:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/18/2023 09:16:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/16/2023 12:30:04 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/16/2023 12:18:09 AM
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