This morning reports are surfacing that the Tel Aviv-based Check Point Software Technologies Ltd.(NASDAQ:CHKP) has begun discussions with Cyberark Software Ltd (NASDAQ:CYBR) concerning a possible acquisition of the company.
Check Point, with a market cap close to $14 billion, has been on a small acquisition spree as of late. Last year the company acquired both Lacoon Mobile Security and Hyperwise, and this year has already turned their attention to Cyberark Software Ltd (NASDAQ:CYBR).
Cyberark’s shares have been beaten down over the last seven months, as it dropped over 50% in this time frame, perhaps making shareholders a bit more positive about a potential buyout. Shares of Cyberark Software Ltd (NASDAQ:CYBR) are up $4.66 or 12.32% in pre-market trading this morning. The stock decreased 0.18% or $0.07 during the last trading session, hitting $37.84. Approximately 23,947 shares traded hands. CYBR shares have declined 42.09% since June 9, 2015 and are currently downtrending. It has underperformed the S&P500 by 34.60%.
From a total of 11 analysts covering Cyber-Ark Software (NASDAQ:CYBR) stock, 6 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 55% of the ratings are positive. The highest target price is $72 while the lowest target price is $42. The mean of all analyst targets is $58.01 which is 53.30% above today’s ($37.84) stock price. Cyber-Ark Software was the topic of 22 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on January 6 with a “Equal-Weight” rating. DA Davidson initiated shares with a”Neutral” rating and a $57 target share price in their report from an October 16. JP Morgan upgraded CYBR stock in a recent report from December 10 to a “Overweight” rating. Deutsche Bank upgraded the rating on September 21. Deutsche Bank has a “Buy” rating and a $65 price target on shares. Finally, Bank of America downgraded the stock to a “Neutral” rating in a report they issued on a November 10.
Cyberark Software Ltd is an Israel-based security company. The company has a market cap of $1.20 billion. The Company’s provides information technology security solutions that protect organizations from cyber attacks. It has 58.95 P/E ratio. The Company’s products include CyberArk Shared Technology Platform, Privileged Account Security Solution and Sensitive Information Management Solution.