CyberArk Software Ltd. $CYBR is Driehaus Capital Management LLC's 6th Largest Position

Key Points

• Driehaus Capital Management LLC has reduced its stake in CyberArk Software Ltd. by 9.9%, owning 430,974 shares, which represents about 1.4% of its total holdings, making it the firm's 6th largest position.
• In the latest earnings report, CyberArk Software reported $0.88 earnings per share, exceeding expectations, with revenues up 46% year-over-year at $328.03 million.
• Analysts have a mixed outlook with a consensus rating of "Hold" and an average price target of $435.11, while some analysts have set price targets as high as $551.00.

Driehaus Capital Management LLC lowered its position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,974 shares of the technology company's stock after selling 47,122 shares during the quarter. CyberArk Software makes up about 1.4% of Driehaus Capital Management LLC's holdings, making the stock its 6th biggest holding. Driehaus Capital Management LLC owned about 0.87% of CyberArk Software worth $145,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CYBR. Golden State Wealth Management LLC lifted its holdings in shares of CyberArk Software by 100.0% during the 1st 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 boosted its position in shares of CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after purchasing an additional 46 shares during the period. Bessemer Group Inc. raised its stake in shares of CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of CyberArk Software in the first quarter valued at $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of CyberArk Software by 340.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock valued at $37,000 after purchasing an additional 85 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR traded down $0.09 during mid-day trading on Tuesday, reaching $453.17. 758,991 shares of the company's stock were exchanged, compared to its average volume of 937,262. The firm has a 50-day moving average price of $407.43 and a two-hundred day moving average price of $375.95. CyberArk Software Ltd. has a 52 week low of $254.43 and a 52 week high of $457.07. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of -134.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its earnings results 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 the consensus estimate of $315.43 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.CyberArk Software's quarterly revenue was up 46.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CYBR shares. DA Davidson raised their target price on CyberArk Software from $465.00 to $518.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Piper Sandler reiterated a "neutral" rating and issued a $448.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Guggenheim downgraded shares of 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, July 31st. Scotiabank reiterated a "sector perform" rating and set a $448.00 price target (down from $460.00) on shares of CyberArk Software in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $448.00 price objective (up previously from $420.00) on shares of CyberArk Software in a report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $435.11.

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.