CyberArk Software (NASDAQ:CYBR) Earns "Sector Perform" Rating from Scotiabank

Key Points

• CyberArk Software's stock has received a "sector perform" rating from Scotiabank, with a revised target price of $448.00, indicating a potential upside of 10.11% from its previous close.
• Recent ratings from other analysts, including Wedbush and Royal Bank Of Canada, have also lowered their ratings, contributing to a trend of the stock being rated as a "hold" by many.
• The company reported $328.03 million in revenue for the last quarter, a 46% increase year-over-year, while its EPS was $0.88, surpassing estimates.

CyberArk Software (NASDAQ:CYBR - Get Free Report)'s stock had its "sector perform" rating reiterated by Scotiabank in a research report issued on Tuesday,Benzinga reports. They currently have a $448.00 target price on the technology company's stock, down from their previous target price of $460.00. Scotiabank's price objective indicates a potential upside of 10.11% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $450.00 price objective on the stock. in a research report on Thursday, July 31st. William Blair cut CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Stephens lowered CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada cut CyberArk Software from a "moderate buy" rating to a "hold" rating and increased their price objective for the stock from $420.00 to $448.00 in a report on Thursday, July 31st. Finally, UBS Group lowered CyberArk Software from a "strong-buy" rating to a "hold" rating and lifted their price objective for the stock from $480.00 to $485.00 in a research report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $435.11.

CyberArk Software Price Performance

Shares of CYBR traded down $2.14 during trading hours on Tuesday, reaching $406.87. The stock had a trading volume of 575,124 shares, compared to its average volume of 877,242. The company's 50-day moving average is $391.99 and its two-hundred day moving average is $368.24. The stock has a market capitalization of $20.11 billion, a PE ratio of -120.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.31 and a current ratio of 2.31. CyberArk Software has a 12 month low of $240.90 and a 12 month high of $452.00.

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

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thoma Bravo L.P. purchased a new stake in shares of CyberArk Software in the 4th quarter valued at $380,637,000. Invesco Ltd. boosted its stake in shares of CyberArk Software by 12.2% in the 1st quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock valued at $381,904,000 after purchasing an additional 122,423 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CyberArk Software by 1,598.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after purchasing an additional 921,523 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of CyberArk Software by 2.3% in the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock valued at $313,084,000 after purchasing an additional 20,832 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in CyberArk Software by 0.7% during the 1st quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company's stock valued at $300,448,000 after buying an additional 6,314 shares during the last quarter. 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.

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