CyberArk Software (NASDAQ:CYBR) Stock Price Down 3.7% on Analyst Downgrade

CyberArk Software Ltd. (NASDAQ:CYBR) was down 3.7% on Monday after Barclays lowered their price target on the stock from $450.00 to $405.00. Barclays currently has an overweight rating on the stock. CyberArk Software traded as low as $336.17 and last traded at $336.50. Approximately 447,276 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 527,593 shares. The stock had previously closed at $349.44.

A number of other analysts have also recently commented on the stock. Oppenheimer lifted their target price on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. StockNews.com downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $420.00 target price on shares of CyberArk Software in a research report on Friday. JPMorgan Chase & Co. lifted their price target on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Scotiabank increased their price objective on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $414.64.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CyberArk Software during the fourth quarter worth about $25,000. TD Private Client Wealth LLC increased its stake in CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares in the last quarter. Whipplewood Advisors LLC increased its stake in CyberArk Software by 135.3% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock worth $27,000 after buying an additional 46 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of CyberArk Software during the fourth quarter valued at approximately $39,000. Finally, Graney & King LLC purchased a new position in shares of CyberArk Software in the fourth quarter valued at approximately $43,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Price Performance

The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of -176.08 and a beta of 1.00. The stock has a 50 day moving average price of $355.74 and a 200-day moving average price of $331.41.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.