BTIG analyst Gray Powell has maintained their neutral stance on CYBR stock, giving a Hold rating on August 2.
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Gray Powell has given his Hold rating due to a combination of factors surrounding CyberArk Software’s recent performance and market conditions. The company reported better-than-expected financial results for the second quarter, with annual recurring revenue and total revenue exceeding both internal and market estimates. Operating income also surpassed market expectations, indicating strong financial health.
However, the pending acquisition by Palo Alto Networks introduces uncertainty, as there was no conference call or updated guidance provided. The stock is trading at a slight discount to the acquisition offer, suggesting limited upside potential in the short term. These elements, combined with adjustments in future financial estimates, contribute to the decision to maintain a Hold rating, reflecting a cautious stance amid the acquisition process.
In another report released on August 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $455.00 price target.
CYBR’s price has also changed slightly for the past six months – from $380.340 to $405.040, which is a 6.49% increase.