CyberArk Software (NASDAQ:CYBR) Raised to “Strong-Buy” at Zacks Research

CyberArk Software (NASDAQ:CYBR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Citigroup downgraded CyberArk Software from a “buy” rating to a “hold” rating and lifted their price target for the company from $465.00 to $524.00 in a research note on Tuesday, November 4th. JPMorgan Chase & Co. assumed coverage on CyberArk Software in a report on Wednesday, December 17th. They issued a “neutral” rating and a $474.00 target price on the stock. JMP Securities reaffirmed a “market perform” rating on shares of CyberArk Software in a research report on Tuesday, September 23rd. DA Davidson reiterated a “buy” rating and set a $518.00 price target on shares of CyberArk Software in a report on Friday, November 7th. Finally, Jefferies Financial Group lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Hold” and a consensus target price of $462.63.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $460.93 on Wednesday. The company has a market cap of $23.27 billion, a P/E ratio of -99.98, a PEG ratio of 21.74 and a beta of 0.92. The company has a fifty day simple moving average of $467.04 and a 200 day simple moving average of $452.31. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.52. CyberArk Software has a 12-month low of $288.63 and a 12-month high of $526.19.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data 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. The firm had revenue of $342.84 million for the quarter, compared to analyst estimates of $328.52 million. CyberArk Software had a negative net margin of 17.42% and a negative return on equity of 0.07%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts predict that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sheets Smith Wealth Management increased its position in shares of CyberArk Software by 0.7% during the 3rd quarter. Sheets Smith Wealth Management now owns 3,141 shares of the technology company’s stock valued at $1,518,000 after purchasing an additional 23 shares during the last quarter. Portside Wealth Group LLC increased its holdings in CyberArk Software by 1.1% during the third quarter. Portside Wealth Group LLC now owns 2,047 shares of the technology company’s stock worth $989,000 after buying an additional 23 shares during the last quarter. Signal Advisors Wealth LLC raised its position in CyberArk Software by 0.6% in the third quarter. Signal Advisors Wealth LLC now owns 3,917 shares of the technology company’s stock worth $1,892,000 after acquiring an additional 24 shares during the period. Level Four Advisory Services LLC boosted its stake in CyberArk Software by 0.6% in the third quarter. Level Four Advisory Services LLC now owns 3,884 shares of the technology company’s stock valued at $1,877,000 after acquiring an additional 25 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of CyberArk Software by 50.0% during the 3rd quarter. UMB Bank n.a. now owns 87 shares of the technology company’s stock valued at $42,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Company Profile

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.