DA Davidson Has Lowered Expectations for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective cut by DA Davidson from $475.00 to $415.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also commented on CYBR. Piper Sandler boosted their price objective on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Canaccord Genuity Group boosted their price target on CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $415.00 price objective on shares of CyberArk Software in a research note on Monday, January 27th. Oppenheimer lifted their target price on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Stephens started coverage on shares of CyberArk Software in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $440.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $414.64.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $343.35 on Monday. The business’s 50 day moving average price is $355.74 and its 200-day moving average price is $331.41. CyberArk Software has a 1 year low of $223.41 and a 1 year high of $421.00. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of -176.08 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, sell-side analysts expect that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CYBR. MML Investors Services LLC lifted its holdings in shares of CyberArk Software by 3.1% in the 3rd quarter. MML Investors Services LLC now owns 8,339 shares of the technology company’s stock worth $2,432,000 after acquiring an additional 249 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CyberArk Software by 4.1% during the third quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock worth $108,020,000 after buying an additional 14,724 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CyberArk Software in the third quarter valued at $144,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of CyberArk Software in the 3rd quarter valued at $1,135,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.