JPMorgan Chase & Co. Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Equities researchers at JPMorgan Chase & Co. started coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $474.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.19% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Citizens Jmp lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings assumed coverage on CyberArk Software in a research note on Saturday, November 1st. They set a “sell (d-)” rating on the stock. JMP Securities restated a “market perform” rating on shares of CyberArk Software in a report on Tuesday, September 23rd. DA Davidson restated a “buy” rating and set a $518.00 target price on shares of CyberArk Software in a report on Friday, November 7th. Finally, Canaccord Genuity Group downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their price objective for the stock from $440.00 to $502.00 in a research report on Wednesday, October 15th. Six analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $462.63.

CyberArk Software Trading Down 0.2%

Shares of CYBR traded down $1.04 on Wednesday, reaching $450.59. 108,840 shares of the company’s stock were exchanged, compared to its average volume of 821,735. CyberArk Software has a 12 month low of $288.63 and a 12 month high of $526.19. The stock has a market capitalization of $22.75 billion, a P/E ratio of -97.71, a price-to-earnings-growth ratio of 24.15 and a beta of 0.99. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $485.28 and a two-hundred day moving average price of $446.18.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The company had revenue of $342.84 million for the quarter, compared to the consensus estimate of $328.52 million. During the same quarter in the prior year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 42.8% on a year-over-year basis. Research analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Trading of CyberArk Software

A number of large investors have recently added to or reduced their stakes in CYBR. AXA S.A. lifted its position in shares of CyberArk Software by 1.4% in the second quarter. AXA S.A. now owns 117,542 shares of the technology company’s stock valued at $47,825,000 after buying an additional 1,571 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of CyberArk Software during the second quarter worth approximately $1,504,000. Stratos Wealth Partners LTD. acquired a new stake in shares of CyberArk Software in the second quarter valued at approximately $214,000. World Investment Advisors acquired a new stake in CyberArk Software during the second quarter worth approximately $211,000. Finally, Advyzon Investment Management LLC bought a new position in shares of CyberArk Software in the second quarter worth $363,000. Institutional investors and hedge funds 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.