Cyberark Software (NASDAQ:CYBR) Rating Lowered to Outperform at First Analysis

Cyberark Software (NASDAQ:CYBR) was downgraded by research analysts at First Analysis from a “strong-buy” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat reports. They presently have a $154.00 price target on the technology company’s stock, up from their prior price target of $143.00. First Analysis’ price objective points to a potential upside of 11.70% from the stock’s current price.

Other analysts have also issued reports about the company. ValuEngine upgraded Cyberark Software from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on Cyberark Software from $149.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday. Barclays cut their price objective on Cyberark Software from $140.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. BidaskClub upgraded Cyberark Software from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Finally, Evercore ISI set a $140.00 price objective on Cyberark Software and gave the stock a “buy” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Cyberark Software currently has a consensus rating of “Buy” and an average price target of $139.63.

Shares of Cyberark Software stock traded up $0.40 during midday trading on Tuesday, hitting $137.87. The company’s stock had a trading volume of 238,768 shares, compared to its average volume of 644,949. The firm has a market capitalization of $5.19 billion, a P/E ratio of 96.41, a PEG ratio of 5.48 and a beta of 1.59. The stock has a 50-day simple moving average of $123.06 and a 200-day simple moving average of $117.69. Cyberark Software has a 1-year low of $74.86 and a 1-year high of $148.74.

Cyberark Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.18. Cyberark Software had a return on equity of 12.94% and a net margin of 16.09%. The business had revenue of $108.12 million during the quarter, compared to analysts’ expectations of $103.04 million. During the same quarter last year, the firm posted $0.48 earnings per share. Cyberark Software’s revenue was up 27.7% compared to the same quarter last year. On average, analysts forecast that Cyberark Software will post 1.56 EPS for the current year.

Several institutional investors have recently bought and sold shares of CYBR. FMR LLC increased its stake in shares of Cyberark Software by 196.8% in the first quarter. FMR LLC now owns 142,217 shares of the technology company’s stock worth $16,931,000 after purchasing an additional 94,307 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Cyberark Software in the second quarter worth about $1,726,000. Northern Trust Corp increased its stake in shares of Cyberark Software by 240.4% in the second quarter. Northern Trust Corp now owns 245,767 shares of the technology company’s stock worth $31,419,000 after purchasing an additional 173,562 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of Cyberark Software by 161.5% in the second quarter. Glen Harbor Capital Management LLC now owns 748 shares of the technology company’s stock worth $96,000 after purchasing an additional 462 shares during the period. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Cyberark Software by 161.5% in the second quarter. Meadow Creek Investment Management LLC now owns 1,156 shares of the technology company’s stock worth $148,000 after purchasing an additional 714 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.

About Cyberark Software

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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Analyst Recommendations for Cyberark Software (NASDAQ:CYBR)

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