Cyberark Stock Circles the Drain; Another Underwriter Downgrades Snap

Cowen downgraded Snap to "market perform" from "outperform"

Jul 14, 2017 at 11:27 AM
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Analysts are weighing in on cybersecurity company Cyberark Software Ltd (NASDAQ:CYBR), Snapchat parent Snap Inc (NYSE:SNAP), and software developer F5 Networks, Inc. (NASDAQ:FFIV). Here's a quick roundup of today's bearish brokerage notes on shares of CYBR, SNAP, and FFIV.

CYBR Stock Slammed After Cutting Revenue Forecast

Cyberark Software reported preliminary second-quarter earnings, cutting its revenue forecast to $57 million from $61.9 million. As a result, J.P. Morgan Securities and Deutsche Bank downgraded the stock to the equivalent of "hold," and cut their respective price targets to $45. No fewer than seven other brokerage firms cut their price targets on CYBR stock. CYBR shares are sitting on a loss of 15.7% to trade at $42.74, and earlier touched a 14-month low of $14.32. Additional downgrades could be forthcoming for Cyberark Software shares, with more than two-thirds of analysts carrying a "strong buy" recommendation.

Rough Week for SNAP Continues

Snap made headlines after the stock breached its IPO price of $17 earlier this week, the result of underwriter Morgan Stanley downgrading SNAP to "equal weight" from "overweight," and cutting its price target to $16 from $28. Today, fellow underwriter Cowen downgraded SNAP stock to "market perform" from "outperform," and cut its price target to $17 from $21. SNAP stock is down 1% at $15.54, as a result.

Despite a lackluster post-IPO performance thus far, nine out of 26 analysts maintain "buy" or better ratings. In fact, just yesterday, Stifel said it was "relishing the opportunity" to upgrade Snap shares to "buy" from "hold."

Piper Jaffray Downgrades FFIV Stock

Piper Jaffray downgraded F5 Networks stock to "neutral" from "overweight," and cut its price target to $136 from $144. FFIV has dropped 16% year-to-date to trade at $120.92 -- down 5.7% today -- but is positive 4% year-over-year. FFIV stock's near-term options are attractively priced, from a historical volatility standpoint, with a Schaeffer's Volatility Index (SVI) of 20%, residing in the eighth percentile of its annual range.


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