CyberArk Software (CYBR): Lumpiness In Billings and FCF, Still Increasing PT - Piper Jaffray
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst, Andrew Nowinski, reiterated his Overweight rating on shares of CyberArk Software (NASDAQ: CYBR) after the company reported another good quarter, beating guidance across all metrics. Management also raised FY16 guidance for operating income and EPS, well beyond the magnitude of the beat in Q2.
However, billings and FCF came in below expectations but management still raised FCF margin expectations for FY16. The analyst believes the company is well-positioned to deliver solid beat-and-raise quarters going forward and therefore reiterated the Overweight rating.
The price target is increased to $60 (from $55) on 22.5x EV/CY17 FCF, up from 21x.
Shares of CyberArk Software closed at $55.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Nomura Securities Upgrades Chesapeake Energy (CHK) to Neutral
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!