CyberArk Software Ltd. (CYBR) Reaches New 12-Month Low After Analyst Downgrade

CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week low during mid-day trading on Friday after BidaskClub downgraded the stock from a strong-buy rating to a buy rating. The company traded as low as $42.62 and last traded at $42.64, with a volume of 10,116,076 shares changing hands. The stock had previously closed at $51.00.

CYBR has been the subject of several other reports. Morgan Stanley initiated coverage on CyberArk Software in a research report on Thursday, March 30th. They set an “equal weight” rating and a $55.00 price objective for the company. Vetr downgraded CyberArk Software from a “strong-buy” rating to a “buy” rating and set a $60.34 price objective for the company. in a research report on Monday, May 8th. Zacks Investment Research upgraded CyberArk Software from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Imperial Capital downgraded CyberArk Software from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $63.00 to $55.00 in a research report on Friday, May 12th. Finally, Summit Redstone downgraded CyberArk Software from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. CyberArk Software presently has an average rating of “Hold” and an average price target of $51.17.

A number of hedge funds have recently made changes to their positions in CYBR. First Trust Advisors LP boosted its stake in shares of CyberArk Software by 61.4% in the first quarter. First Trust Advisors LP now owns 125,314 shares of the technology company’s stock worth $6,375,000 after buying an additional 47,692 shares during the period. Jennison Associates LLC boosted its stake in shares of CyberArk Software by 62.8% in the first quarter. Jennison Associates LLC now owns 959,820 shares of the technology company’s stock worth $48,826,000 after buying an additional 370,293 shares during the period. Wells Fargo & Company MN boosted its stake in shares of CyberArk Software by 4.1% in the first quarter. Wells Fargo & Company MN now owns 560,530 shares of the technology company’s stock worth $28,514,000 after buying an additional 22,060 shares during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of CyberArk Software by 61.9% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 6,539 shares of the technology company’s stock worth $333,000 after buying an additional 2,500 shares during the period. Finally, American Capital Management Inc. boosted its stake in shares of CyberArk Software by 144.0% in the first quarter. American Capital Management Inc. now owns 240,640 shares of the technology company’s stock worth $12,241,000 after buying an additional 142,030 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50 day moving average price of $46.15 and a 200 day moving average price of $49.79. The firm has a market capitalization of $1.19 billion, a PE ratio of 46.21 and a beta of 2.57.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $57.48 million for the quarter, compared to the consensus estimate of $57.44 million. CyberArk Software had a net margin of 13.70% and a return on equity of 10.77%. CyberArk Software’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts anticipate that CyberArk Software Ltd. will post $1.08 earnings per share for the current year.

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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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