CyberArk Software (NASDAQ:CYBR) Price Target Cut to $425.00 by Analysts at JPMorgan Chase & Co.

CyberArk Software (NASDAQ:CYBR) had its price target trimmed by JPMorgan Chase & Co. from $474.00 to $425.00 in a research note published on Monday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 30th. Citigroup cut shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their target price for the company from $465.00 to $524.00 in a research report on Tuesday, November 4th. Mizuho decreased their price target on shares of CyberArk Software from $520.00 to $470.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CyberArk Software in a research note on Thursday, January 29th. Finally, Canaccord Genuity Group lowered shares of CyberArk Software from a “buy” rating to a “hold” rating and raised their target price for the stock from $440.00 to $502.00 in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $462.46.

CyberArk Software Stock Up 4.5%

Shares of NASDAQ CYBR opened at $409.22 on Monday. CyberArk Software has a 52-week low of $288.63 and a 52-week high of $526.19. The company has a quick ratio of 2.14, a current ratio of 2.00 and a debt-to-equity ratio of 0.51. The company’s 50-day simple moving average is $447.05 and its 200-day simple moving average is $460.35. The firm has a market cap of $20.66 billion, a price-to-earnings ratio of -139.67, a price-to-earnings-growth ratio of 17.35 and a beta of 0.91.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, February 4th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.18. CyberArk Software had a negative net margin of 10.79% and a positive return on equity of 0.77%. The firm had revenue of $372.65 million for the quarter, compared to analyst estimates of $377.22 million. During the same period last year, the company posted $0.80 EPS. CyberArk Software’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities analysts predict that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pentwater Capital Management LP acquired a new position in shares of CyberArk Software in the 3rd quarter valued at $1,770,745,000. Norges Bank acquired a new position in CyberArk Software in the second quarter valued at about $444,613,000. Hudson Bay Capital Management LP purchased a new position in CyberArk Software during the third quarter worth about $230,284,000. Bank of America Corp DE boosted its stake in CyberArk Software by 88.8% during the third quarter. Bank of America Corp DE now owns 960,708 shares of the technology company’s stock worth $464,166,000 after buying an additional 451,962 shares during the period. Finally, Barclays PLC increased its position in shares of CyberArk Software by 948.3% during the third quarter. Barclays PLC now owns 471,411 shares of the technology company’s stock valued at $227,762,000 after acquiring an additional 426,441 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.