|Over a week ago|
CyberArk price target raised to $85 from $80 at DA Davidson » 09:1605/1405/14/20
DA Davidson analyst…
DA Davidson analyst Andrew Nowinski raised the firm's price target on CyberArk to $85 from $80, adjusting his valuation model to enterprise value at 4.5-times his expected 2021 sales. The analyst is cutting his FY20 and FY21 EPS views to $1.53 from $2.08 and to $1.94 from $2.33 respectively while keeping a Neutral rating on the shares however to reflect the limited visibility on deal closing trends and the lower than expected Q2 guidance ranges.
CyberArk price target lowered to $115 from $134 at Guggenheim » 08:5705/1405/14/20
Guggenheim analyst Imtiaz…
Guggenheim analyst Imtiaz Koujalgi lowered the firm's price target on CyberArk to $115 from $134 after the company reported revenues that were near the lower end of its guidance and in line with consensus expectations. License revenues came in below consensus as deals were downsized and pushed out and revenue guidance for Q2 lagged the consensus view while the company withdrew its FY20 guidance, noted Koujalgi. The analyst keeps a Buy rating on the shares, stating that the company's Q2 outlook "seems reasonably conservative" and adding that the company's Idaptive acquisition will increase the recurring revenue mix.
CyberArk price target lowered to $94 from $104 at UBS » 06:2305/1405/14/20
UBS analyst Fatima…
UBS analyst Fatima Boolani lowered the firm's price target on CyberArk to $94 from $104 and keeps a Neutral rating on the shares after its Q1 results. The quarter reflected challenged new business activity as new logo adds slowed and installed base reliance ramped, the analyst tells investors in a research note. Boolani adds that the wide Q2 guidance by the management was driven by "increasing spending uncertainty that risks deal cancellation, deferral, and downsizing."
CyberArk sees Q2 EPS 17c-35c, consensus 36c » 06:2205/1405/14/20
As part of its Q1…
As part of its Q1 earnings announcement yesterday, CyberArk also guided Q2 revenue $95M-$105M, consensus $107.02M.
William Blair keeps Outperform on CyberArk following 'solid' quarter » 14:3405/1305/13/20
William Blair analyst…
William Blair analyst Jonathan Ho maintains an Outperform rating on CyberArk following the company's "solid" Q1 results, despite the impact of COVID-19. The company withdrew its FY20 guidance, and said it sees some weakness in COVID-19-impacted industries, but noted those only represent about 15% of its base. Ho sees privileged access management solutions as a "critical component of cybersecurity that continues to see high prioritization," and noted that CyberArk "has actually seen its pipeline increase from late March into the first few weeks of May, suggesting no lack of demand."
Fly Intel: Pre-market Movers » 09:1105/1305/13/20
GILD, ROKU, JCP, JD, LVS, MYL, UNFI, CYBR, INFN, ADPT, NE, BLUE
Check out this morning's…
CyberArk acquires Idaptive for $70M in cash » 07:0905/1305/13/20
CyberArk announced it has…
CyberArk announced it has acquired Santa Clara, California-based IDaptive Holdings. Together, CyberArk and Idaptive will deliver the industry's only modern identity platform with a security-first approach. The total purchase price for the acquisition of Idaptive was $70M in cash consideration.
CyberArk withdraws FY20 guidance due to COVID-19 » 07:0805/1305/13/20
Given the uncertainty…
Given the uncertainty created by the COVID-19 pandemic as well as its impact on the overall economy, our business, our customers and our partners, we are withdrawing our full year 2020 guidance for total revenue, non-GAAP operating income, and non-GAAP EPS that we provided on February 12.
CyberArk reports Q1 EPS 50c, consensus 36c » 07:0705/1305/13/20
Reports Q1 revenue…
Reports Q1 revenue $106.8M, consensus $105.63M. "The health and well-being of our global community of employees, customers and partners continues to be our first priority," said Udi Mokady, CyberArk Chairman and CEO. "We were pleased to deliver results in line with or exceeding all guided metrics for the first quarter. Privileged Access Management (PAM) is even more critical today with attackers exploiting the sudden and dramatic change in enterprise IT created by remote work environments. In this higher threat environment, our level of engagement with customers has increased as they look to better secure their extended enterprise by expanding their PAM programs. Given our leadership position in PAM, our team's extensive experience during prior market downturns as well as our ongoing commitment to innovation and customer satisfaction, we believe that we will emerge from the COVID-19 pandemic stronger than before. We are also pleased with today's acquisition of Idaptive, which positions us as the only modern identity security platform, adds another SaaS offering to our portfolio, and expands our Total Addressable Market."
|Over a month ago|
DA Davidson says Proofpoint, SailPoint have strongest pipelines in sector » 18:5504/0804/08/20
PFPT, FTNT, SAIL, CYBR
DA Davidson analyst…
DA Davidson analyst Andrew Nowinski said that he conducted a Q1 Security Reseller survey, collecting feedback from 30 resellers and distributors across North America, Europe, and APAC. Nowinski said that Proofpoint (PFPT) had the "top" results in the survey, likely driven by a boost in phishing attacks amid the coronavirus outbreak, and that Fortinet's (FTNT) results were "OK," though it was a downtick from the previous quarter. The analyst said that SailPoint (SAIL) had net negative results, but they were still "far better" than he anticipated. Nowinski also noted "surprisingly weak" results for CyberArk (CYBR), which "significantly" downticked from Q4, likely attributable to COVID-19. Looking ahead to Q2, the analyst said the Proofpoint and SailPoint had the strongest pipelines. Nowinski has Neutral ratings on CyberArk, Fortinet, and SailPoint, and a Buy rating on Proofpoint.