CyberArk Software’s (CYBR) “Neutral” Rating Reaffirmed at Citigroup

CyberArk Software (NASDAQ:CYBR)‘s stock had its “neutral” rating restated by investment analysts at Citigroup in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $524.00 price target on the technology company’s stock, up from their previous price target of $465.00. Citigroup’s price target points to a potential upside of 0.97% from the company’s previous close.

A number of other research firms have also recently commented on CYBR. UBS Group cut CyberArk Software from a “strong-buy” rating to a “hold” rating and raised their target price for the company from $480.00 to $485.00 in a research note on Thursday, July 31st. Citizens Jmp lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Piper Sandler restated a “neutral” rating and set a $448.00 target price (up previously from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. Barclays reiterated an “equal weight” rating and issued a $520.00 price target (up from $440.00) on shares of CyberArk Software in a research note on Tuesday, October 14th. Finally, Wedbush reissued a “neutral” rating and set a $450.00 price objective on shares of CyberArk Software in a research note on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $451.69.

CyberArk Software Price Performance

CYBR stock opened at $518.96 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31. CyberArk Software has a 1 year low of $271.68 and a 1 year high of $526.19. The firm has a 50-day moving average of $485.92 and a 200 day moving average of $421.00. The company has a market cap of $26.20 billion, a P/E ratio of -153.99 and a beta of 1.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. Opal Wealth Advisors LLC bought a new stake in shares of CyberArk Software during the second quarter valued at approximately $30,000. NewSquare Capital LLC boosted its stake 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 last quarter. Parkside Financial Bank & Trust increased its holdings in shares of CyberArk Software by 120.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 64 shares of the technology company’s stock worth $31,000 after purchasing an additional 35 shares in the last quarter. AlphaCore Capital LLC purchased a new position in shares of CyberArk Software in the second quarter worth $33,000. Finally, Morse Asset Management Inc bought a new position in shares of CyberArk Software during the first quarter valued at $34,000. Institutional investors 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.