CyberArk Received its Third Buy in a Row

By Carrie Williams

After First Analysis and Oppenheimer assigned a Buy rating to CyberArk in the last month, the company received another Buy, this time from Nomura Holdings. Analyst Frederick Grieb reiterated a Buy rating on CyberArk (NASDAQ: CYBR) today and set a price target of $62. The company’s shares opened today at $47.60.

According to TipRanks.com, Grieb is a 5-star analyst with an average return of 9.0% and a 63.5% success rate. Grieb covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Continental Resources, and Range Resources Corp.

Currently, the analyst consensus on CyberArk is Moderate Buy and the average price target is $59.43, representing a 24.9% upside.

In a report issued on October 21, First Analysis also initiated coverage with a Buy rating on the stock with a $60 price target.

CyberArk’s market cap is currently $1.59B and has a P/E ratio of 62.08. The company has a book value ratio of 6.2356.

CyberArk Software Ltd. engages in the development, market, and sale of software based security solutions for enterprise. Its offers shared technology platform, account security, and sensitive information management solutions. The company was founded by Udi Mokady in 1999 and is headquartered in Petach Tikva, Israel.