CyberArk Software (NASDAQ:CYBR) Downgraded to "Hold" Rating by Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reaffirmed CyberArk Software's "sector perform" rating and increased its price target from $420.00 to $448.00, indicating a potential upside of 6.84%.
• CyberArk's stock recently fell by 3.7%, trading at $419.31, despite the company reporting stronger-than-expected earnings with $0.98 EPS for the quarter.
• Analysts have mixed ratings on CyberArk, with a majority assigning a "buy" or "overweight" rating, contributing to an average price target of $431.50.

CyberArk Software (NASDAQ:CYBR - Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada from a "moderate buy" rating to a "hold" rating in a research note issued on Thursday, Marketbeat reports. They currently have a $448.00 price objective on the technology company's stock, up from their prior price objective of $420.00. Royal Bank Of Canada's price objective indicates a potential upside of 8.21% from the company's previous close.

Several other equities analysts have also commented on CYBR. Roth Capital began coverage on shares of CyberArk Software in a research report on Tuesday, May 13th. They issued a "buy" rating and a $415.00 price objective for the company. DA Davidson lifted their price objective on shares of CyberArk Software from $435.00 to $465.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Guggenheim downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 target price on the stock. in a research report on Thursday. Wedbush reaffirmed a "neutral" rating and set a $450.00 price target on shares of CyberArk Software in a research report on Thursday. Finally, Robert W. Baird raised their price objective on CyberArk Software from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $433.39.

CyberArk Software Stock Up 0.6%

Shares of CyberArk Software stock traded up $2.53 on Thursday, reaching $414.00. The stock had a trading volume of 3,227,349 shares, compared to its average volume of 2,003,482. The stock has a market capitalization of $20.46 billion, a P/E ratio of -122.85 and a beta of 0.96. CyberArk Software has a 1 year low of $230.00 and a 1 year high of $452.00. The company has a quick ratio of 1.29, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $391.33 and a 200 day moving average price of $367.51.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in CyberArk Software during the second quarter worth about $30,000. Golden State Wealth Management LLC grew its position in 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 during the period. Whipplewood Advisors LLC increased its stake in CyberArk Software by 135.3% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after acquiring an additional 46 shares during the last quarter. Bessemer Group Inc. increased its stake in CyberArk Software by 421.1% during the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in CyberArk Software in the first quarter valued at $34,000. 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.