CyberArk Software (NASDAQ:CYBR) Cut to Hold at BTIG Research

BTIG Research downgraded shares of CyberArk Software (NASDAQ:CYBR) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. UBS Group lowered shares of CyberArk Software from a “strong-buy” rating to a “hold” rating and boosted their price objective for the company from $480.00 to $485.00 in a report on Thursday. Needham & Company LLC boosted their price target on shares of CyberArk Software from $460.00 to $551.00 and gave the company a “buy” rating in a research note on Wednesday. William Blair cut shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $445.00 target price on shares of CyberArk Software in a research report on Tuesday, May 13th. Finally, Roth Capital assumed coverage on CyberArk Software in a research note on Tuesday, May 13th. They set a “buy” rating and a $415.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus price target of $433.39.

CyberArk Software Stock Up 0.6%

Shares of CYBR opened at $414.00 on Wednesday. CyberArk Software has a 52-week low of $230.00 and a 52-week high of $452.00. The company has a quick ratio of 1.29, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $391.99 and a two-hundred day simple moving average of $368.01. The company has a market capitalization of $20.46 billion, a PE ratio of -122.85 and a beta of 0.96.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The company had revenue of $328.03 million for the quarter, compared to the consensus estimate of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. CyberArk Software’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. Vanguard Group Inc. lifted its position in shares of CyberArk Software by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 74,029 shares of the technology company’s stock worth $24,663,000 after buying an additional 662 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in CyberArk Software by 14.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 979 shares of the technology company’s stock worth $326,000 after acquiring an additional 127 shares in the last quarter. Alliancebernstein L.P. lifted its position in CyberArk Software by 144.8% in the fourth quarter. Alliancebernstein L.P. now owns 245,492 shares of the technology company’s stock valued at $81,786,000 after acquiring an additional 145,221 shares during the last quarter. Geode Capital Management LLC boosted its stake in CyberArk Software by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 392,006 shares of the technology company’s stock valued at $130,088,000 after acquiring an additional 19,775 shares in the last quarter. Finally, World Investment Advisors purchased a new position in shares of CyberArk Software during the fourth quarter worth about $583,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.