CyberArk Software’s (CYBR) “Buy” Rating Reaffirmed at DA Davidson

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a report released on Friday,Benzinga reports. They presently have a $518.00 price objective on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 4.32% from the stock’s current price.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $420.00 target price on shares of CyberArk Software in a report on Tuesday, July 22nd. UBS Group cut shares of CyberArk Software from a “strong-buy” rating to a “hold” rating and upped their price objective for the stock from $480.00 to $485.00 in a research report on Thursday, July 31st. Oppenheimer reiterated a “market perform” rating on shares of CyberArk Software in a research note on Friday, August 1st. Scotiabank reissued a “sector perform” rating and issued a $448.00 price target (down previously from $460.00) on shares of CyberArk Software in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group cut shares of CyberArk Software from a “buy” rating to a “hold” rating and upped their price target for the company from $440.00 to $502.00 in a research report on Wednesday, October 15th. Nine investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $451.69.

CyberArk Software Stock Down 1.2%

Shares of NASDAQ CYBR traded down $5.84 during mid-day trading on Friday, hitting $496.56. The company had a trading volume of 142,792 shares, compared to its average volume of 862,219. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $489.50 and a two-hundred day simple moving average of $423.42. The company has a market capitalization of $25.06 billion, a PE ratio of -147.41 and a beta of 1.01. CyberArk Software has a one year low of $288.00 and a one year high of $526.19.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in CyberArk Software in the 2nd quarter valued at approximately $444,613,000. Price T Rowe Associates Inc. MD grew its position in CyberArk Software by 1,598.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company’s stock valued at $330,964,000 after buying an additional 921,523 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CyberArk Software by 82.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company’s stock valued at $250,290,000 after buying an additional 335,634 shares during the period. Amundi raised its position in shares of CyberArk Software by 153.5% during the 1st quarter. Amundi now owns 547,466 shares of the technology company’s stock worth $179,547,000 after buying an additional 331,498 shares in the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of CyberArk Software during the 3rd quarter worth about $98,635,000. 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.