CyberArk Software (NASDAQ:CYBR) Shares Down 5.8% - Should You Sell?

Shares of CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) dropped 5.8% during mid-day trading on Thursday . The stock traded as low as $378.95 and last traded at $381.79. Approximately 310,292 shares traded hands during trading, a decline of 45% from the average daily volume of 564,501 shares. The stock had previously closed at $405.31.

Analysts Set New Price Targets

CYBR has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of CyberArk Software from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Roth Capital initiated coverage on shares of CyberArk Software in a report on Tuesday, May 13th. They set a "buy" rating and a $415.00 price objective on the stock. Truist Financial cut their price objective on shares of CyberArk Software from $450.00 to $425.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Needham & Company LLC reissued a "buy" rating and set a $480.00 price objective on shares of CyberArk Software in a report on Thursday, March 20th. Finally, Stephens started coverage on shares of CyberArk Software in a report on Tuesday, April 1st. They set an "overweight" rating and a $440.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of "Moderate Buy" and an average target price of $416.79.

CyberArk Software Stock Down 7.1%

The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of -202.36 and a beta of 1.00. The business's 50-day moving average is $382.03 and its 200-day moving average is $361.39.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.19. The company had revenue of $317.60 million during the quarter, compared to the consensus estimate of $305.57 million. CyberArk Software had a negative net margin of 7.97% and a positive return on equity of 0.71%. The firm's quarterly revenue was up 43.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fulton Bank N.A. raised its position in shares of CyberArk Software by 9.9% in the second quarter. Fulton Bank N.A. now owns 2,177 shares of the technology company's stock worth $886,000 after acquiring an additional 196 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of CyberArk Software by 12.5% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,631 shares of the technology company's stock worth $1,884,000 after acquiring an additional 516 shares during the period. Signal Advisors Wealth LLC acquired a new position in shares of CyberArk Software in the second quarter worth about $1,584,000. Jackson Square Capital LLC raised its position in shares of CyberArk Software by 1.1% in the second quarter. Jackson Square Capital LLC now owns 25,455 shares of the technology company's stock worth $10,357,000 after acquiring an additional 272 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of CyberArk Software in the second quarter worth about $148,000. Institutional investors and hedge funds 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.