CyberArk Software Ltd. (NASDAQ:CYBR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “CyberArk is an Israeli company that specializes in protecting accounts from cyber-attacks. Given a healthy security market, we are optimistic about the company’s product lineup, deal wins and investment plans, which will boost results in the long run. Furthermore, CyberArk’s expansion strategy through acquisitions is encouraging. Investments in product suite and go-to market are the other positives for the company. According to research firm, Markets and Markets, the cyber security market is expected to touch $170.21 billion by 2020 from $106.32 billion in 2015, expanding at an annual rate of 9.8%. We believe that CyberArk Software is in a favorable position to tap the opportunities. However, the stock has underperformed the industry over the last one year. Decelerating revenue growth trend makes us slightly cautious about its near-term performance. Stiff competition from peers and an uncertain macroeconomic environment add to woes.”
Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price (down previously from $62.00) on shares of CyberArk Software in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $56.00 target price (down previously from $64.00) on shares of CyberArk Software in a report on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price (down previously from $62.00) on shares of CyberArk Software in a report on Friday, July 14th. Evercore ISI reissued a “buy” rating and set a $56.00 target price (down previously from $60.00) on shares of CyberArk Software in a report on Friday, July 14th. Finally, BidaskClub cut CyberArk Software from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. CyberArk Software has a consensus rating of “Hold” and a consensus price target of $50.60.
CyberArk Software (NASDAQ CYBR) traded down 1.08% during trading on Tuesday, reaching $42.17. The company’s stock had a trading volume of 268,460 shares. The firm has a market capitalization of $1.25 billion, a P/E ratio of 54.13 and a beta of 2.57. CyberArk Software has a one year low of $39.34 and a one year high of $56.25. The stock has a 50-day moving average of $41.37 and a 200 day moving average of $46.39.
Institutional investors have recently modified their holdings of the stock. Credit Suisse AG grew its position in CyberArk Software by 17.9% in the first quarter. Credit Suisse AG now owns 210,016 shares of the technology company’s stock worth $10,684,000 after acquiring an additional 31,889 shares during the period. Oppenheimer & Co. Inc. grew its position in CyberArk Software by 61.7% in the first quarter. Oppenheimer & Co. Inc. now owns 82,640 shares of the technology company’s stock worth $4,204,000 after acquiring an additional 31,532 shares during the period. Nicholas Company Inc. grew its position in CyberArk Software by 15.6% in the second quarter. Nicholas Company Inc. now owns 106,835 shares of the technology company’s stock worth $5,336,000 after acquiring an additional 14,385 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in CyberArk Software in the second quarter worth approximately $8,521,000. Finally, FNY Partners Fund LP purchased a new position in CyberArk Software in the first quarter worth approximately $223,000. Institutional investors own 80.47% of the company’s stock.
CyberArk Software Company Profile
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
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