Zacks Investment Research cut shares of CyberArk Software Ltd. (NASDAQ:CYBR) from a hold rating to a sell rating in a report issued on Thursday.
According to Zacks, “Estimates of information technology security solutions provider, CyberArk have moved south off late. The company also provided sluggish revenue guidance for the third quarter and full-year 2017. Notably, the stock has underperformed the industry over the last one year. Decelerating revenue growth trend makes us slightly cautious about its near-term performance. It should be noted that, in the last three quarters the company has reported the slowest revenue growth rate since it was enlisted in Sep 2014. Intensifying competition from peers such as CA Inc. and Microsoft, and an uncertain macroeconomic environment add to woes. Nonetheless, CyberArk’s strategy of growing through acquisitions is encouraging. Additionally, investments in product suite and go-to-market are the other positives. “
Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $55.00 price objective (down from $62.00) on shares of CyberArk Software in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $56.00 price objective (down from $64.00) on shares of CyberArk Software in a report on Friday, July 14th. Stifel Nicolaus reiterated a buy rating and issued a $55.00 price objective (down from $62.00) on shares of CyberArk Software in a report on Friday, July 14th. Evercore ISI reiterated a buy rating and issued a $56.00 price objective (down from $60.00) on shares of CyberArk Software in a report on Friday, July 14th. Finally, BidaskClub downgraded shares of CyberArk Software from a strong-buy rating to a buy rating in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $50.60.
CyberArk Software (NASDAQ:CYBR) opened at 42.85 on Thursday. The stock’s 50 day moving average is $40.76 and its 200 day moving average is $47.20. CyberArk Software has a 52 week low of $39.34 and a 52 week high of $56.25. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 55.01 and a beta of 2.58.
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Several large investors have recently added to or reduced their stakes in CYBR. BT Investment Management Ltd acquired a new position in shares of CyberArk Software in the second quarter valued at $92,355,000. Matrix Capital Management Company LP acquired a new position in shares of CyberArk Software in the second quarter valued at $74,650,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of CyberArk Software in the first quarter valued at $56,420,000. Marshall Wace North America L.P. acquired a new position in shares of CyberArk Software in the first quarter valued at $56,420,000. Finally, ETF Managers Group LLC acquired a new position in shares of CyberArk Software in the second quarter valued at $44,112,000. Hedge funds and other institutional investors own 80.47% of the company’s stock.
CyberArk Software Company Profile
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
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