Brokers upbeat on Cyberark Software despite economic uncertainty

The Cyberark Software (NSQ:CYBR) share price has risen by 4.30% over the past month and it’s currently trading at 110.78. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Cyberark Software currently has:

• 8 Buy recommendations

• 7 Hold recommendations

• 0 Sell recommendations

This suggests that analysts are generally positive about the outlook.

GET MORE DATA-DRIVEN INSIGHTS INTO NSQ:CYBR »

Researching beyond broker forecasts

At its current price of 110.78, shares in Cyberark Software are trading at a discount of -24.8% to its 52 week high price. The 1-year performance of the shares has been -9.35%.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Cyberark Software it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Cyberark Software that you can find out about here.

Alternatively, if you'd like to find more shares that analysts are bullish about, you can find them on this Positive Momentum & Broker Buys screen.