Zacks Investment Research Downgrades Cyberark Software (NASDAQ:CYBR) to Hold

Cyberark Software (NASDAQ:CYBR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports. They presently have a $120.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.09% from the company’s current price.

According to Zacks, “CyberArk third-quarter 2019 earnings benefited from increased demand for privileged access security. Moreover, strong demand across energy and pharmaceutical verticals drives revenues. Growing traction of Endpoint Privilege Manager within customers of all sizes and across industries is a tailwind. Strong demand across insurance, manufacturing, media, pharmaceuticals, retail and transportation is an upside. The company is gaining from robust revenue growth across the Americas, EMEA and APJ. Shares have outperformed the industry on a year-to-date basis. However, increasing expenses on marketing programs are an overhang on margins. Moreover, intense competition from the likes of IBM in the access and identity management market is a major headwind.”

CYBR has been the topic of several other research reports. Cowen assumed coverage on Cyberark Software in a report on Wednesday, August 21st. They issued an “outperform” rating and a $145.00 price target on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $163.00 target price on shares of Cyberark Software in a research note on Thursday, November 7th. Piper Jaffray Companies assumed coverage on Cyberark Software in a research note on Friday, November 8th. They issued a “neutral” rating and a $120.00 target price on the stock. ValuEngine raised Cyberark Software from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group cut their target price on Cyberark Software from $131.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. Cyberark Software has an average rating of “Buy” and an average target price of $130.50.

Cyberark Software stock traded down $0.70 during mid-day trading on Monday, hitting $114.19. The stock had a trading volume of 1,256,200 shares, compared to its average volume of 877,084. The stock has a 50-day simple moving average of $104.02 and a two-hundred day simple moving average of $119.84. The stock has a market capitalization of $4.29 billion, a PE ratio of 79.85, a P/E/G ratio of 4.28 and a beta of 1.61. Cyberark Software has a 12 month low of $64.66 and a 12 month high of $148.74.

Cyberark Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.18. The business had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $103.04 million. Cyberark Software had a return on equity of 12.94% and a net margin of 16.09%. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. Research analysts forecast that Cyberark Software will post 1.56 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Cyberark Software by 486.5% during the second quarter. Morgan Stanley now owns 2,050,413 shares of the technology company’s stock worth $262,126,000 after purchasing an additional 1,700,819 shares during the period. BlackRock Inc. raised its position in Cyberark Software by 87.6% in the 2nd quarter. BlackRock Inc. now owns 1,295,355 shares of the technology company’s stock valued at $165,599,000 after buying an additional 604,804 shares during the last quarter. Invesco Ltd. raised its position in Cyberark Software by 684.4% in the 2nd quarter. Invesco Ltd. now owns 1,099,810 shares of the technology company’s stock valued at $140,599,000 after buying an additional 959,601 shares during the last quarter. Axiom International Investors LLC DE raised its position in Cyberark Software by 115.0% in the 2nd quarter. Axiom International Investors LLC DE now owns 751,735 shares of the technology company’s stock valued at $96,102,000 after buying an additional 402,100 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Cyberark Software by 222.3% in the 2nd quarter. APG Asset Management N.V. now owns 736,800 shares of the technology company’s stock valued at $82,712,000 after buying an additional 508,200 shares during the last quarter. 75.52% of the stock is currently owned by institutional investors.

Cyberark Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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