Analyst Upgrades: Facebook, Cyberark Software, bluebird bio

Analysts upwardly revised their ratings on Facebook Inc (FB), Cyberark Software Ltd (CYBR), and bluebird bio Inc (BLUE)

Mar 23, 2015 at 9:25 AM
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Analysts are weighing in today on social network giant Facebook Inc (NASDAQ:FB), cybersecurity firm Cyberark Software Ltd (NASDAQ:CYBR), and drugmaker bluebird bio Inc (NASDAQ:BLUE). Here's a quick roundup of today's bullish brokerage notes on FB, CYBR, and BLUE.

  • It's been a record-setting run for FB of late, and the equity looks ready to extend this momentum today, after receiving price-target hikes from JMP Securities (by $3 to $97) and Piper Jaffray (by $8 to $92) -- both in territory yet to be charted. Longer term, shares of FB are up roughly 25% year-over-year, and closed Friday at $83.80. Options traders, meanwhile, have shown a distinct preference for calls over puts in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Facebook Inc's 50-day call/put volume ratio of 2.57 ranks in the 90th annual percentile.

  • CYBR is 3.8% higher in electronic trading, thanks to an upbeat "buy" initiation from BofA-Merrill Lynch, and $60 price target -- representing expected upside of 23.2% to Friday's settlement at $48.69. This optimism shouldn't be too surprising, considering the stock has tacked on almost 23% year-to-date, but isn't shared throughout the brokerage bunch. Specifically, five out of seven analysts maintain a "hold" or worse recommendation on Cyberark Software Ltd, while the average 12-month price target of $46.88 stands at a discount to current trading levels.

  • BLUE has put in a tremendous showing on the charts, surging nearly fivefold over the past 52 weeks to trade at $124.76. Roth Capital thinks there's more room to run, and upped its price target on the stock to $145 from $120 -- in record-high waters. Elsewhere on the Street, however, skepticism has been growing. At the ISE, CBOE, and PHLX, BLUE's 10-day put/call volume ratio of 1.94 indicates nearly two puts have been bought to open for every call over the last two weeks. Plus, short interest jumped 10.9% in the last two reporting periods, and now accounts for a healthy 7.7% of the stock's available float. In fact, it would take more than a week to cover these shorted shares, at average daily trading levels. Should bluebird bio Inc continue its upward trajectory, a capitulation of some of the weaker bearish hands could translate into a fresh burst of buying power for BLUE.
 

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