CyberArk Software (NASDAQ:CYBR) Downgraded by Wolfe Research to "Hold"

Key Points

• Wolfe Research has restated its "peer perform" rating for CyberArk Software (NASDAQ: CYBR), with several analysts providing mixed ratings, including DA Davidson boosting its target price to $518.00.
• CyberArk Software reported a quarterly earnings per share of $0.88, exceeding the consensus estimate, alongside a revenue increase of 46.0% year-over-year.
• The company's stock has shown volatility, with a trading range between a 52-week low of $230.00 and a high of $452.00, signaling investor interest and market movement.

CyberArk Software (NASDAQ:CYBR - Get Free Report) was downgraded by stock analysts at Wolfe Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday, Marketbeat.com reports.

CYBR has been the subject of several other reports. Royal Bank Of Canada cut CyberArk Software from a "moderate buy" rating to a "hold" rating and boosted their price target for the stock from $420.00 to $448.00 in a research report on Thursday. DA Davidson boosted their price target on CyberArk Software from $465.00 to $518.00 and gave the stock a "buy" rating in a research report on Thursday. Roth Capital initiated coverage on CyberArk Software in a research report on Tuesday, May 13th. They set a "buy" rating and a $415.00 price target for the company. William Blair reiterated a "market perform" rating on shares of CyberArk Software in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $444.00 price target on shares of CyberArk Software in a research report on Thursday. Seventeen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $433.39.

CyberArk Software Stock Up 0.6%

CyberArk Software stock opened at $414.00 on Friday. The stock has a market capitalization of $20.46 billion, a PE ratio of -122.85 and a beta of 0.96. CyberArk Software has a 12 month low of $230.00 and a 12 month high of $452.00. The business has a 50 day simple moving average of $391.99 and a 200-day simple moving average of $368.24. 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 posted its quarterly earnings data 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 analysts' expectations 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 was up 46.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. On average, analysts anticipate that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of CyberArk Software in the 2nd quarter valued at $30,000. Golden State Wealth Management LLC raised its holdings in shares of CyberArk Software by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after buying an additional 39 shares during the period. Whipplewood Advisors LLC raised its holdings 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 buying an additional 46 shares during the period. Bessemer Group Inc. raised its holdings 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 buying an additional 80 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of CyberArk Software in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

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.