CyberArk Software (NASDAQ:CYBR) Rating Lowered to "Hold" at UBS Group

Key Points

• UBS Group has reiterated a neutral rating for CyberArk Software (NASDAQ:CYBR), with a price target increase to $485.00, suggesting an upside potential of 11.45% from current levels.
• Analysts have widely covered CyberArk, with six holding a 'neutral' rating, while twenty-three recommend a 'buy' rating, indicating a strong consensus for the stock.
• CyberArk Software's recent quarterly earnings surpassed expectations, reporting $0.98 earnings per share and a revenue increase of 43.3% year-over-year.

UBS Group lowered shares of CyberArk Software (NASDAQ:CYBR - Free Report) from a strong-buy rating to a hold rating in a research note released on Thursday morning, MarketBeat reports. They currently have $485.00 target price on the technology company's stock, up from their previous target price of $480.00.

Several other equities analysts have also recently weighed in on the company. KeyCorp dropped their price objective on CyberArk Software from $485.00 to $425.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reiterated an "equal weight" rating on shares of CyberArk Software in a research note on Tuesday, May 13th. William Blair reissued a "market perform" rating on shares of CyberArk Software in a report on Wednesday. Roth Capital started coverage on shares of CyberArk Software in a research report on Tuesday, May 13th. They set a "buy" rating and a $415.00 target price for the company. Finally, DA Davidson lifted their price objective on shares of CyberArk Software from $435.00 to $465.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $433.39.

CyberArk Software Trading Up 0.6%

NASDAQ CYBR traded up $2.53 during trading hours on Thursday, hitting $414.00. 3,227,349 shares of the company's stock were exchanged, compared to its average volume of 2,003,482. The firm has a market cap of $20.46 billion, a price-to-earnings 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 stock has a 50-day simple moving average of $391.99 and a 200 day simple moving average of $368.01. The company has a current ratio of 2.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. The business 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 firm's revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities analysts forecast that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in CyberArk Software by 21.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 18,644 shares of the technology company's stock worth $7,586,000 after acquiring an additional 3,320 shares during the last quarter. Peregrine Capital Management LLC grew its stake in shares of CyberArk Software by 1.6% in the second quarter. Peregrine Capital Management LLC now owns 38,732 shares of the technology company's stock worth $15,759,000 after purchasing an additional 613 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in CyberArk Software during the 2nd quarter valued at about $45,342,000. Aequim Alternative Investments LP bought a new position in CyberArk Software during the 2nd quarter valued at approximately $5,178,000. Finally, Rational Advisors Inc. lifted its holdings in CyberArk Software by 44.3% in the 2nd quarter. Rational Advisors Inc. now owns 14,000 shares of the technology company's stock worth $5,696,000 after buying an additional 4,300 shares during the period. 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.