Cyberark Software (NASDAQ:CYBR) Downgraded by Needham & Company LLC to Hold

Needham & Company LLC downgraded shares of Cyberark Software (NASDAQ:CYBR) from a buy rating to a hold rating in a report released on Thursday morning, Benzinga reports.

Several other equities analysts have also recently issued reports on the stock. DA Davidson started coverage on shares of Cyberark Software in a research note on Monday, January 13th. They issued a neutral rating and a $125.00 price objective on the stock. Piper Jaffray Companies started coverage on shares of Cyberark Software in a research report on Friday, November 8th. They issued a neutral rating and a $120.00 target price on the stock. ValuEngine raised shares of Cyberark Software from a sell rating to a hold rating in a research report on Friday, November 1st. First Analysis downgraded shares of Cyberark Software from a strong-buy rating to an outperform rating and lifted their target price for the stock from $143.00 to $154.00 in a research report on Tuesday, January 14th. Finally, Wedbush reissued an outperform rating on shares of Cyberark Software in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $138.90.

Shares of CYBR traded up $0.74 during mid-day trading on Thursday, hitting $118.94. The company’s stock had a trading volume of 952,269 shares, compared to its average volume of 905,140. The firm has a 50-day moving average price of $133.14 and a 200 day moving average price of $118.10. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 68.75, a PEG ratio of 5.59 and a beta of 1.50. Cyberark Software has a fifty-two week low of $94.30 and a fifty-two week high of $148.74.

Cyberark Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.16. The company had revenue of $129.66 million for the quarter, compared to analysts’ expectations of $126.67 million. Cyberark Software had a net margin of 16.09% and a return on equity of 12.94%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Equities research analysts forecast that Cyberark Software will post 1.56 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of CYBR. Franklin Resources Inc. boosted its holdings in shares of Cyberark Software by 5,528.0% during the fourth quarter. Franklin Resources Inc. now owns 923,778 shares of the technology company’s stock worth $107,694,000 after purchasing an additional 907,364 shares during the period. Pictet Asset Management Ltd. acquired a new stake in shares of Cyberark Software during the fourth quarter worth approximately $79,280,000. Ion Asset Management Ltd. acquired a new stake in shares of Cyberark Software during the fourth quarter worth approximately $47,616,000. TimesSquare Capital Management LLC acquired a new stake in shares of Cyberark Software during the third quarter worth approximately $36,624,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cyberark Software by 166.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 480,309 shares of the technology company’s stock worth $55,994,000 after purchasing an additional 300,064 shares during the period. Institutional investors and hedge funds own 79.49% of the company’s stock.

Cyberark Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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Analyst Recommendations for Cyberark Software (NASDAQ:CYBR)

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