Imperial Capital downgraded shares of Cyberark Software Ltd (NASDAQ:CYBR) from an outperform rating to an in-line rating in a research report report published on Friday, May 12th. The firm currently has $55.00 target price on the technology company’s stock, down from their prior target price of $63.00.
“greenfield” expansion opportunities and add-on sales to already existing customers. But the analyst needs the company to show stronger acceleration in license revenue along with improved visibility from the announced acquisition of Conjur. In fact, Kim noted the acquisition will generate incremental dilution from the addition of 20 new people from Conjur. Core Business Showing Concerning SignsKim also added that CyberArk’s core business demonstrated slower growth inside of the financial services vertical along with less favorable linearity and weaker performance in the EMEA region.Looking forward, the analyst is paying attention for signs of upside to current estimates, which could come from a revised focus in the EMEA region, higher pipeline conversion, penetration from the sale of multiple products and early adoption of DevOps security.Finally, Kim’s revised price target is “consistent with recent levels,” the firm’s analyst wrote.
Several other equities research analysts also recently commented on the stock. Needham & Company LLC started coverage on shares of Cyberark Software in a research note on Tuesday, March 28th. They set a buy rating and a $62.00 price objective for the company. Zacks Investment Research upgraded shares of Cyberark Software from a sell rating to a hold rating in a research note on Wednesday, April 12th. Vetr downgraded shares of Cyberark Software from a strong-buy rating to a buy rating and set a $60.34 price objective for the company. in a research note on Thursday, April 27th. Evercore ISI raised shares of Cyberark Software from an in-line rating to an outperform rating and raised their target price for the stock from $51.00 to $60.00 in a report on Wednesday, March 29th. Finally, Bank of America Corp cut shares of Cyberark Software from a buy rating to an underperform rating and reduced their target price for the stock from $62.00 to $43.00 in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $56.91.
Cyberark Software (NASDAQ:CYBR) traded up 0.25% during mid-day trading on Friday, hitting $48.99. The stock had a trading volume of 794,537 shares. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 56.31 and a beta of 2.86. Cyberark Software has a 12 month low of $43.84 and a 12 month high of $59.28. The firm’s 50-day moving average is $51.45 and its 200 day moving average is $50.76.
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Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Cyberark Software during the first quarter valued at $102,000. Cambridge Investment Research Advisors Inc. purchased a new position in Cyberark Software during the first quarter valued at $201,000. Eastern Bank purchased a new position in Cyberark Software during the first quarter valued at $203,000. Brown Advisory Inc. purchased a new position in Cyberark Software during the fourth quarter valued at $221,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Cyberark Software during the fourth quarter valued at $223,000. Institutional investors own 72.53% of the company’s stock.
Cyberark Software Company Profile
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
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