CyberArk Software (NASDAQ:CYBR) Price Target Lowered to $275.00 at DA Davidson

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price target lowered by stock analysts at DA Davidson from $300.00 to $275.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. DA Davidson's price target suggests a potential upside of 20.97% from the company's current price.

Other analysts have also recently issued research reports about the company. Bank of America reiterated a "buy" rating and set a $315.00 target price on shares of CyberArk Software in a research report on Wednesday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $310.00 target price on shares of CyberArk Software in a research report on Friday. Oppenheimer boosted their price target on CyberArk Software from $195.00 to $260.00 and gave the stock an "outperform" rating in a research note on Monday, January 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of CyberArk Software in a research note on Friday. Finally, Wells Fargo & Company increased their price target on CyberArk Software from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, CyberArk Software presently has an average rating of "Moderate Buy" and a consensus target price of $265.63.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR traded down $6.22 during midday trading on Friday, hitting $227.32. The company had a trading volume of 768,883 shares, compared to its average volume of 582,623. The business's 50-day simple moving average is $254.41 and its 200-day simple moving average is $225.88. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of -140.32 and a beta of 1.06. CyberArk Software has a twelve month low of $125.15 and a twelve month high of $283.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.53. The business had revenue of $223.10 million during the quarter, compared to analyst estimates of $209.65 million. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. As a group, sell-side analysts forecast that CyberArk Software will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company's stock valued at $230,871,000 after purchasing an additional 472,961 shares in the last quarter. Polar Capital Holdings Plc grew its position in shares of CyberArk Software by 15.4% in the 3rd quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company's stock valued at $97,412,000 after acquiring an additional 79,506 shares during the period. TimesSquare Capital Management LLC grew its position in shares of CyberArk Software by 2.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company's stock valued at $90,724,000 after acquiring an additional 11,387 shares during the period. Norges Bank bought a new position in shares of CyberArk Software in the 4th quarter valued at about $100,797,000. Finally, Nomura Holdings Inc. lifted its stake in shares of CyberArk Software by 9.5% during the 3rd quarter. Nomura Holdings Inc. now owns 364,875 shares of the technology company's stock worth $59,756,000 after buying an additional 31,660 shares during the last quarter. Institutional investors 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.

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