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Analyst downgrades and PT slashes follow CyberArk’s preliminary Q2 results – CyberArk Software Ltd. (NASDAQ:CYBR)

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JPMorgan downgrades CyberArk (NASDAQ:CYBR) from Neutral to Overweight and slashes the price target from $63 to $45.

Analyst Sterling Autry cites issues in EMEA execution that surfaced in Q1, drove a large part of the miss, and could take up to a year to correct.  

Stephens puts the company’s rating at Equal Weight from Overweight and cuts the price target from $60 to $42. 

Analyst Johnathan Ruykhaver notes that the EMEA trouble and declining growth in U.S. might indicate a lack of market demand for CyberArk solutions, a problem that’s particularly concerning with the increases in sales and marketing spending. 

Cowen has CyberArk at Market Perform and drops the price target by $10 to $43. 

Analyst Gregg Moskowitz says EMEA weakness backed by longer sales cycles that caused Q2 to end without the closure of several large deals. 

Source: Bloomberg. 

CyberArk shares are down 18.76% premarket.  

Previously: CyberArk drops Q2 revenue in preview, CEO “disappointed”; shares down nearly 18% (July 13)



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