BTIG Research Downgrades CyberArk Software (NASDAQ:CYBR) to Hold

Key Points

• CyberArk Software has been downgraded by BTIG Research from a "strong-buy" rating to a "hold" rating, indicating a shift in analyst sentiment towards more caution.
• Despite the downgrade, other research firms have maintained varying ratings for the stock, with a consensus rating of "Moderate Buy" and an average target price of $433.39.
• In its latest earnings report, CyberArk Software exceeded analysts' expectations with earnings per share of $0.88 and a revenue increase of 46% year-over-year, totaling $328.03 million.

BTIG Research downgraded shares of CyberArk Software (NASDAQ:CYBR - Free Report) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Morgan Stanley reissued an "equal weight" rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $420.00 price target on shares of CyberArk Software in a research note on Tuesday, July 22nd. Stephens started coverage on CyberArk Software in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $440.00 price objective on the stock. Robert W. Baird lifted their target price on CyberArk Software from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $448.00 price objective (up from $420.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CyberArk Software has an average rating of "Hold" and a consensus price target of $435.11.

CyberArk Software Stock Down 1.1%

CYBR stock traded down $4.51 during trading on Wednesday, hitting $404.49. 1,175,153 shares of the company's stock traded hands, compared to its average volume of 881,562. The business has a fifty day simple moving average of $391.99 and a two-hundred day simple moving average of $368.24. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software has a 1 year low of $240.90 and a 1 year high of $452.00. The firm has a market capitalization of $19.99 billion, a P/E ratio of -120.21 and a beta of 0.96.

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

Institutional Trading of CyberArk Software

Hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new position in CyberArk Software in the 2nd quarter worth about $30,000. Golden State Wealth Management LLC increased its holdings in shares of CyberArk Software by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after acquiring an additional 39 shares in the last quarter. Whipplewood Advisors LLC grew 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 purchasing an additional 46 shares in the last quarter. Bessemer Group Inc. lifted its holdings in CyberArk Software by 421.1% during the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after purchasing an additional 80 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of CyberArk Software during the 1st quarter worth $34,000. Institutional investors and hedge funds 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.