CyberArk Software (NASDAQ:CYBR) Downgraded to "Hold" Rating by Baird R W

Key Points

• CyberArk Software was downgraded from a "strong-buy" to a "hold" rating by Baird R W, reflecting a shift in the firm's outlook on the stock.
• The company reported better-than-expected earnings of $0.88 per share for the last quarter, exceeding analyst estimates of $0.79, with a revenue of $328.03 million.
• The stock has a current consensus price target of $433.39, with 17 analysts rating it "hold" and 15 rating it "buy".

CyberArk Software (NASDAQ:CYBR - Get Free Report) was downgraded by Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other research firms have also recently weighed in on CYBR. Roth Capital began coverage on shares of CyberArk Software in a research report on Tuesday, May 13th. They set a "buy" rating and a $415.00 price objective for the company. Stifel Nicolaus reiterated a "hold" rating and issued a $444.00 target price on shares of CyberArk Software in a research report on Thursday. Piper Sandler reiterated a "neutral" rating and issued a $448.00 target price (up from $440.00) on shares of CyberArk Software in a research report on Thursday. Rosenblatt Securities reiterated a "neutral" rating and issued a $445.00 target price on shares of CyberArk Software in a research report on Friday. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $460.00 target price on shares of CyberArk Software in a research report on Friday. Seventeen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $433.39.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $414.00 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 2.31. The company has a fifty day moving average of $391.99 and a two-hundred day moving average of $368.01. The stock has a market capitalization of $20.46 billion, a PE ratio of -122.85 and a beta of 0.96. CyberArk Software has a fifty-two week low of $230.00 and a fifty-two week high of $452.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. The company had revenue of $328.03 million during the quarter, compared to analysts' expectations of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The firm's revenue for the quarter was up 46.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. As a group, research analysts forecast that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. Vanguard Group Inc. boosted its stake in shares of CyberArk Software by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 74,029 shares of the technology company's stock valued at $24,663,000 after purchasing an additional 662 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of CyberArk Software by 14.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 979 shares of the technology company's stock valued at $326,000 after purchasing an additional 127 shares during the period. Geode Capital Management LLC boosted its stake in shares of CyberArk Software by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 392,006 shares of the technology company's stock valued at $130,088,000 after purchasing an additional 19,775 shares during the period. World Investment Advisors purchased a new position in shares of CyberArk Software in the fourth quarter valued at approximately $583,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of CyberArk Software in the fourth quarter valued at approximately $231,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

CyberArk Software Company Profile

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.

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