Cyberark Lock-Up Expires; Multiple Analysts Bullish On Stock

Shares of Cyberark Software Ltd CYBR have experienced volatility in Monday’s trade as the lock-up period for shares as expired.

Amid the lock-up expiration, analysts at multiple firms initiated coverage on shares of Cyberark Software Ltd:

• Barclays: Equal-weight rating; $32 price target. Saket Kalia wrote, "Cyberark is a leader in the privileged account security space, with a thorough, well-integrated, and enterprise-ready solution."
• Oppenheimer: Outperform rating $38 price target. Shaul Eyal stated, "We see CYBR as a solid acquisition candidate in a rapidly consolidating security market, as the leading networking and software companies, flushed with cash, are seeking to expand their product portfolio and increase their product footprint within their vast install bases."
• Nomura: Buy rating; $36 price target. Nomura analysts find, "CyberArk is positioned to benefit from this increased awareness of the threat and growing evidence that perimeter defenses are not adequate. We believe CyberArk has the ability to capture increased share as it continues to broaden its product line and expand it sales distribution capacity."
• William Blair: Outperform rating.
• JP Morgan: Neutral rating; $33 price target.

Shares of Cyberark Software traded recently at $30.35, up 0.20 percent.