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

Zacks Research upgraded shares of CyberArk Software (NASDAQ:CYBR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

CYBR has been the topic of several other reports. Barclays reissued an “equal weight” rating and issued a $520.00 price objective (up from $440.00) on shares of CyberArk Software in a research note on Tuesday, October 14th. JMP Securities reiterated a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Citigroup cut shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their price target for the stock from $465.00 to $524.00 in a report on Tuesday, November 4th. Weiss Ratings started coverage on CyberArk Software in a report on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. Finally, Citizens Jmp downgraded CyberArk Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $462.63.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $460.93 on Wednesday. CyberArk Software has a 52-week low of $288.63 and a 52-week high of $526.19. The stock’s 50-day moving average price is $467.04 and its 200 day moving average price is $452.31. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $23.27 billion, a PE ratio of -99.98, a price-to-earnings-growth ratio of 21.74 and a beta of 0.92.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share (EPS) 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 business had revenue of $342.84 million for the quarter, compared to analyst estimates of $328.52 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. As a group, equities research analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently modified their holdings of the company. Sheets Smith Wealth Management boosted its position in CyberArk Software by 0.7% during the third quarter. Sheets Smith Wealth Management now owns 3,141 shares of the technology company’s stock worth $1,518,000 after purchasing an additional 23 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of CyberArk Software by 1.1% during the 3rd 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 boosted its position in shares of CyberArk Software by 0.6% in the 3rd quarter. Signal Advisors Wealth LLC now owns 3,917 shares of the technology company’s stock worth $1,892,000 after buying an additional 24 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of CyberArk Software by 0.6% in the 3rd quarter. Level Four Advisory Services LLC now owns 3,884 shares of the technology company’s stock worth $1,877,000 after buying an additional 25 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in CyberArk Software by 50.0% in 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 last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

About CyberArk Software

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.