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Oppenheimer Maintains Buy on Cyberark Software Ltd (CYBR) Following Solid 2Q Beat

On Tuesday, Cyberark Software Ltd (NASDAQ:CYBR) posted second-quarter results that outclassed both consensus revenue and EPS expectations. On the back of the beat, Oppeneheimer top analyst Shaul Eyal reiterates an Outperform rating on CYBR with a $60 price target, marking a 16% increase from where the stock is currently trading.

CYBR closed the quarter with revenue of $50.4 million, coming in above the Street’s projection of $48.2 million. The security software firm also reported earnings per share (EPS) of $0.29, above the Street’s EPS estimate of $0.20.

Eval attributes the solid results to the driving momentum of Cyberark’s partnership with Hewlett Packard Enterprise (HPE)...