CyberArk Software (NASDAQ:CYBR) Stock Price Down 3.7% After Analyst Downgrade

CyberArk Software Ltd. (NASDAQ:CYBR) shares fell 3.7% during mid-day trading on Monday after Barclays lowered their price target on the stock from $450.00 to $405.00. Barclays currently has an overweight rating on the stock. CyberArk Software traded as low as $336.17 and last traded at $336.50. 447,276 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 527,593 shares. The stock had previously closed at $349.44.

A number of other brokerages also recently issued reports on CYBR. Canaccord Genuity Group raised their price target on shares of CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com cut CyberArk Software from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Stephens assumed coverage on CyberArk Software in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $440.00 target price on the stock. JMP Securities increased their price target on CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $414.64.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at $25,000. TD Private Client Wealth LLC increased its holdings in CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares during the last quarter. Whipplewood Advisors LLC raised its stake in CyberArk Software by 135.3% in the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock valued at $27,000 after buying an additional 46 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in CyberArk Software during the 4th quarter worth about $39,000. Finally, Graney & King LLC acquired a new position in shares of CyberArk Software during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Trading Down 1.7 %

The firm has a market cap of $16.97 billion, a PE ratio of -176.08 and a beta of 1.00. The business has a fifty day moving average price of $355.74 and a 200 day moving average price of $331.41.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) 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, research analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

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.