UPDATE: Goldman Sachs Downgrades CyberArk Software (CYBR) to Neutral on Valuation

August 15, 2016 6:22 AM EDT
Get Alerts CYBR Hot Sheet
Price: $52.21 --0%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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(Updated - August 15, 2016 8:26 AM EDT)

Goldman Sachs downgraded CyberArk Software (NASDAQ: CYBR) from Buy to Neutral with a price target of $58 (unchanged). Analyst Gabriela Borges said there was no change to the fundamental story, and he tied the downgrade to valuation.

"We downgrade CyberArk to Neutral from Buy with 10% upside to our 12month price target of $58 (unchanged). There is no change to our fundamental view: we continue to see significant runway for the company to expand with privileged access and complementary technologies at new and existing customers, as well as the potential for M&A. However, with the stock trading at 23X 2017E FCF, we believe the medium-term growth story is well understood and we see more opportunities in other Security stocks over the next 12 months," said Borges.

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 $52.95 yesterday.

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Goldman Sachs
Stock Trading Software on 2016-09-08 23:19:55
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Informative post

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