Zacks Investment Research downgraded shares of Cyberark Software (NASDAQ:CYBR) from a strong-buy rating to a hold rating in a research report released on Monday morning, Zacks.com reports. They currently have $120.00 price objective on the technology company’s stock.

According to Zacks, “CyberArk third-quarter 2019 earnings benefited from increased demand for privileged access security. Moreover, strong demand across energy and pharmaceutical verticals drives revenues. Growing traction of Endpoint Privilege Manager within customers of all sizes and across industries is a tailwind. Strong demand across insurance, manufacturing, media, pharmaceuticals, retail and transportation is an upside. The company is gaining from robust revenue growth across the Americas, EMEA and APJ. Shares have outperformed the industry on a year-to-date basis. However, increasing expenses on marketing programs are an overhang on margins. Moreover, intense competition from the likes of IBM in the access and identity management market is a major headwind.”

Several other research analysts also recently commented on CYBR. Cowen initiated coverage on shares of Cyberark Software in a research report on Wednesday, August 21st. They set an outperform rating and a $145.00 price objective for the company. BidaskClub upgraded shares of Cyberark Software from a strong sell rating to a sell rating in a research report on Friday, September 20th. Evercore ISI set a $140.00 price objective on shares of Cyberark Software and gave the company a buy rating in a research report on Monday, November 4th. Piper Jaffray Companies began coverage on shares of Cyberark Software in a research report on Friday, November 8th. They set a neutral rating and a $120.00 price objective for the company. Finally, Morgan Stanley upped their price target on shares of Cyberark Software from $146.00 to $149.00 and gave the stock an overweight rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $130.50.

CYBR traded down $0.70 during trading on Monday, hitting $114.19. 1,256,200 shares of the stock traded hands, compared to its average volume of 877,084. Cyberark Software has a twelve month low of $64.66 and a twelve month high of $148.74. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 79.85, a PEG ratio of 4.28 and a beta of 1.61. The business has a 50 day moving average price of $104.02 and a 200 day moving average price of $119.84.

Cyberark Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.47 by $0.18. Cyberark Software had a net margin of 16.09% and a return on equity of 12.94%. The business had revenue of $108.12 million during the quarter, compared to the consensus estimate of $103.04 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 27.7% on a year-over-year basis. On average, analysts forecast that Cyberark Software will post 1.56 EPS for the current year.

Large investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Cyberark Software during the second quarter worth $26,000. AdvisorNet Financial Inc acquired a new stake in Cyberark Software in the third quarter valued at $30,000. NEXT Financial Group Inc increased its holdings in Cyberark Software by 59.5% in the second quarter. NEXT Financial Group Inc now owns 319 shares of the technology company’s stock valued at $41,000 after purchasing an additional 119 shares during the period. First Quadrant L P CA acquired a new stake in Cyberark Software in the third quarter valued at $34,000. Finally, Quadrant Capital Group LLC acquired a new stake in Cyberark Software in the third quarter valued at $37,000. Institutional investors own 75.52% of the company’s stock.

Cyberark Software Company Profile

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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