Decagon Acquires 74,990 Shares of CyberArk for $36.23 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Fool
- New Investment Position: Decagon Asset Management established a new position in CyberArk Software during Q3, acquiring 74,990 shares valued at $36.23 million, indicating strong confidence in the company's future growth prospects.
- Portfolio Optimization: CyberArk now accounts for 18.29% of Decagon's reportable AUM, making it the fund's largest holding, reflecting its significance and potential returns within the investment portfolio.
- Significant Revenue Growth: CyberArk reported third-quarter revenue of $342.8 million, up 43% year-over-year, with annual recurring revenue increasing by 45%, highlighting strong market demand in the identity security sector.
- Financial Stability: Despite a GAAP operating loss of $50.1 million, non-GAAP operating income has expanded to a 19% margin, and with nearly $2 billion in cash and marketable securities, the company demonstrates solid financial health.
CYBR
$451.86+Infinity%1D
Analyst Views on CYBR
Wall Street analysts forecast CYBR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CYBR is 506.20 USD with a low forecast of 460.00 USD and a high forecast of 524.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
3 Buy
9 Hold
0 Sell
Hold
Current: 454.050
Low
460.00
Averages
506.20
High
524.00
Current: 454.050
Low
460.00
Averages
506.20
High
524.00
About CYBR
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protect organizations from cyber-attacks. The Company's software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company's Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager. The Company's products protect against external and internal cyber threats and enable detection and neutralization of attacks. The Company's Enterprise Password Vault provides customers with a tool to manage and protect all privileged accounts across an entire organization, including physical, virtual, or cloud-based assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
