CyberArk Software (NASDAQ:CYBR) Earns “Sector Perform” Rating from Scotiabank

CyberArk Software (NASDAQ:CYBR)‘s stock had its “sector perform” rating restated by research analysts at Scotiabank in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $448.00 price target on the technology company’s stock, down from their previous price target of $460.00. Scotiabank’s target price suggests a potential upside of 8.35% from the stock’s current price.

CYBR has been the topic of a number of other reports. Wedbush reaffirmed a “neutral” rating and set a $450.00 target price on shares of CyberArk Software in a research report on Thursday, July 31st. BTIG Research downgraded CyberArk Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Morgan Stanley reissued an “equal weight” rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Baird R W downgraded shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, KeyCorp cut shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, CyberArk Software presently has an average rating of “Hold” and a consensus target price of $435.11.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $413.46 on Tuesday. The firm’s 50 day moving average is $393.63 and its two-hundred day moving average is $369.20. CyberArk Software has a 52 week low of $242.46 and a 52 week high of $452.00. The firm has a market capitalization of $20.44 billion, a P/E ratio of -122.69 and a beta of 0.96. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53.

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

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC increased its position in CyberArk Software by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company’s stock valued at $26,000 after purchasing an additional 39 shares during the period. Whipplewood Advisors LLC increased its position in CyberArk Software by 135.3% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock valued at $27,000 after purchasing an additional 46 shares during the period. Opal Wealth Advisors LLC purchased a new position in CyberArk Software during the 2nd quarter valued at $30,000. NewSquare Capital LLC increased its position in CyberArk Software by 78.0% during the 2nd quarter. NewSquare Capital LLC now owns 73 shares of the technology company’s stock valued at $30,000 after purchasing an additional 32 shares during the period. Finally, Bessemer Group Inc. increased its position in CyberArk Software by 421.1% during the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company’s stock valued at $33,000 after purchasing an additional 80 shares during the period. 91.84% of the stock is currently owned by institutional investors.

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.