CyberArk Software (CYBR): Cloud Products At The Core of Solid 2Q - Oppenheimer

August 10, 2016 7:01 AM EDT
Get Alerts CYBR Hot Sheet
Price: $46.95 +3.05%

Rating Summary:
    12 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of CyberArk Software (NASDAQ: CYBR) after the company reported 2Q16 revenue of $50.4M beating consensus $48.2M and EPS of $0.29 vs. the Street's $0.20. Upside was driven by healthy demand for PAM and ongoing operating cost discipline.

The company saw solid performance across each segment, with Licenses at $30M (vs. consensus' $28.4M) and Services at $20.4M (vs. consensus' $19.9M). Strength at Viewfinity drove an increase in gross margins (87.6% vs. 83.5%). CYBR's expanding product line is complimenting recent trends (e.g. ransomware), including the recent (8/8) announcement of the compatibility of Privileged Access Security Solutions with cloud environments.

No change to the price target of $60.

For an analyst ratings summary and ratings history on CyberArk Software click here. For more ratings news on CyberArk Software click here.

Shares of CyberArk Software closed at $55.31 yesterday.

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