Analyst Update: Tesla, LinkedIn, Cyberark Software

Analysts adjusted their ratings on Tesla Motors Inc (TSLA), LinkedIn Corp (LNKD), and Cyberark Software Ltd (CYBR)

Nov 10, 2015 at 2:38 PM
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Analysts are weighing in today on automaker Tesla Motors Inc (NASDAQ:TSLA), social media interest LinkedIn Corp (NYSE:LNKD), and cybersecurity concern Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's brokerage notes on TSLA, LNKD, and CYBR.

  • TSLA is down 3.2% at $218.22, after Morgan Stanley said it was prepared for the automaker to burn through more cash through the end of the year, and that it expects lower-than-projected deliveries in the fourth quarter and in 2016. Tesla Motors Inc last week reported its biggest loss in 10 quarters, but the shares gapped higher after CEO Elon Musk said the company is "positioned for strong growth in 2016." Today, however, TSLA has nearly erased its post-earnings bull gap -- much to the delight of short sellers, no doubt. Currently, 26.8% of the stock's float is sold short, accounting for more than a week of trading, at TSLA's average daily volume.
  • LNKD gapped higher in late October, after topping quarterly earnings expectations. The shares of LinkedIn Corp are extending their upward momentum today --  last seen trading at $254.68, up 0.1% -- in territory not charted since May. Lifting the stock was a price-target increase to $310 from $285 at MKM Partners -- a target well into never-before-seen territory for LNKD. Of 28 firms following the stock, 23 give it a "buy" rating or better. Short-term options traders are more put-heavy than usual, however, as LNKD currently sports a Schaeffer's put/call open interest ratio (SOIR) of 1.27, just 3 percentage points shy of an annual high.

  • CYBR has dropped since reporting quarterly earnings above expectations last week. Last seen down 9% at $40.74 -- on pace for its lowest close since February -- Cyberark Software Ltd shares are struggling in the wake of negative analyst attention. BofA-Merrill Lynch downgraded CYBR to "neutral" from "buy" and a cut its price target to $48 from $80, citing "concerns over earnings in the next few quarters." Likewise, DA Davidson last night trimmed its target to $52 from $57. The stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) has dropped from 0.81 last Wednesday to 0.60 today, but still remains in the 65th percentile of its annual range. Meanwhile, seven out of 11 firms following CYBR give it a "buy" rating or better, and the average 12-month price target of $63.75 stands at a 56% premium to the stock's current perch. Additional downgrades and/or price-target cuts could exacerbate selling pressure on CYBR.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Take-Two Interactive Software, Inc., Horizon Technology Finance Corp, and Lexicon Pharmaceuticals, Inc. and Analyst Downgrades: Apple Inc., Calithera Biosciences Inc, and Gap Inc. 

 

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