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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 Introduces ‘Fearlessly Forward’ Customer Video Series that Explores the Human Connections Behind Cybersecurity • Business Wire • 06/25/2024 12:28:00 PM
- IIFL Group Secures Developer Access To Sensitive Data and Applications With CyberArk • Business Wire • 06/19/2024 01:25:00 PM
- CyberArk Announces 2024 Identity Security Impact Customer Award Winners • Business Wire • 06/18/2024 12:48:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 09:20:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 09:10:29 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 08:44:31 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/10/2024 08:57:24 PM
- Coca-Cola Hellenic Bottling Company Selects CyberArk for Identity Security • Business Wire • 06/10/2024 12:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/05/2024 08:30:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 08:58:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 08:34:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 08:33:41 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/22/2024 08:04:25 PM
- CyberArk Extends Identity Security Platform with New Capabilities for Securing Every User • Business Wire • 05/21/2024 10:00:00 PM
- CyberArk Supercharges Identity Security Platform with CyberArk® CORA™ AI • Business Wire • 05/21/2024 02:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 11:20:41 AM
- CyberArk Signs Definitive Agreement to Acquire Machine Identity Management Leader Venafi from Thoma Bravo • Business Wire • 05/20/2024 11:00:00 AM
- Report: 93% Of Organizations Had Two or More Identity-Related Breaches in the Past Year • Business Wire • 05/16/2024 05:30:00 PM
- CyberArk to Host Investor Strategy Update at IMPACT 24: The Identity Security Conference on May 21, 2024 • Business Wire • 05/16/2024 12:30:00 PM
- CyberArk to Present at Upcoming Investor Conferences • Business Wire • 05/16/2024 12:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/15/2024 11:24:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/15/2024 11:14:10 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/15/2024 11:10:16 PM
- CyberArk Previews IMPACT 24: The Identity Security Conference • Business Wire • 05/09/2024 03:43:00 PM
- FM Logistic Chooses the CyberArk Identity Security Platform to Secure Its Digital Transformation and Help Bolster Supply Chain Resilience • Business Wire • 05/07/2024 12:27:00 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM