CyberArk Software (NASDAQ:CYBR) Stock Rating Lowered by Zacks Investment Research

CyberArk Software (NASDAQ:CYBR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, reports. They presently have a $146.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 2.64% from the stock’s previous close.

According to Zacks, “CyberArk is benefiting from rising demand for cyber security solutions owing to the long list of data breaches. Increasing demand for privileged access security on the back of digital transformation and cloud migration strategies remain a key growth driver. Moreover, strong presence across verticals such as banking, healthcare, government and utilities, are safeguarding CyberArk from negative effects of the coronavirus outbreak. Nonetheless, the mix toward software-as-a-service and subscription-based solutions is negatively impacting top-line results. Although the business model would help it generate stable revenues and expand margins in the long run, the company’s revenues and earnings are likely to remain under pressure until the transition completes. Moreover, increased sales & marketing expenses are likely to dampen its margins.”

Several other research analysts also recently commented on CYBR. Mizuho lifted their price objective on CyberArk Software from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 12th. UBS Group raised CyberArk Software from a “neutral” rating to a “buy” rating in a research note on Friday, January 29th. Barclays increased their price objective on CyberArk Software from $181.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. DA Davidson raised shares of CyberArk Software from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $180.00 in a research note on Tuesday, January 12th. Finally, Robert W. Baird upgraded shares of CyberArk Software from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Wednesday, April 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $151.86.

NASDAQ:CYBR opened at $142.24 on Tuesday. CyberArk Software has a 52-week low of $84.11 and a 52-week high of $169.70. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 2,032.29 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.47 and a current ratio of 4.47. The business’s fifty day moving average is $139.31 and its 200 day moving average is $133.71.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, February 10th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.62. CyberArk Software had a net margin of 0.65% and a return on equity of 4.34%. The business had revenue of $144.52 million for the quarter, compared to the consensus estimate of $128.15 million. Equities analysts predict that CyberArk Software will post 0.37 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. OLD Dominion Capital Management Inc. purchased a new stake in shares of CyberArk Software in the 1st quarter worth about $850,000. Confluence Investment Management LLC lifted its holdings in CyberArk Software by 9.0% in the first quarter. Confluence Investment Management LLC now owns 8,514 shares of the technology company’s stock worth $1,101,000 after buying an additional 700 shares during the period. SOA Wealth Advisors LLC. bought a new stake in CyberArk Software during the 4th quarter valued at approximately $3,233,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of CyberArk Software by 102.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 12,764 shares of the technology company’s stock worth $2,061,000 after acquiring an additional 6,467 shares during the period. Finally, Eaton Vance Management purchased a new position in shares of CyberArk Software during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager, which combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS service that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.

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