Imperial Capital downgraded shares of CyberArk Software Ltd. (NASDAQ:CYBR) from an outperform rating to an in-line rating in a report released on Friday, May 12th, Marketbeat Ratings reports. The firm currently has $55.00 price target on the technology company’s stock, down from their prior price target 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,” Imperial Capital’s analyst commented.
Several other research firms have also recently commented on CYBR. Evercore ISI reaffirmed an in-line rating and issued a $60.00 target price on shares of CyberArk Software in a research report on Friday, May 12th. Bank of America Corporation cut shares of CyberArk Software from a buy rating to an underperform rating and lowered their price target for the company from $62.00 to $43.00 in a research report on Friday, May 12th. Summit Redstone cut shares of CyberArk Software from a buy rating to a hold rating and set a $50.00 price target for the company. in a research report on Friday, May 12th. Piper Jaffray Companies lowered their price target on shares of CyberArk Software from $63.00 to $61.00 and set an overweight rating for the company in a research report on Friday, May 12th. Finally, Vetr cut shares of CyberArk Software from a strong-buy rating to a buy rating and set a $60.34 price target for the company. in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $57.43.
CyberArk Software (CYBR) traded up 0.06% during midday trading on Friday, hitting $48.57. The stock had a trading volume of 409,351 shares. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 55.83 and a beta of 2.66. The company’s 50 day moving average is $49.82 and its 200 day moving average is $50.32. CyberArk Software has a 1-year low of $44.13 and a 1-year high of $59.28.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in CyberArk Software during the first quarter worth about $102,000. Cambridge Investment Research Advisors Inc. purchased a new position in CyberArk Software during the first quarter worth $201,000. Eastern Bank purchased a new position in CyberArk Software during the first quarter worth $203,000. FNY Partners Fund LP purchased a new position in CyberArk Software during the first quarter worth $223,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in CyberArk Software by 31.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 4,551 shares of the technology company’s stock worth $231,000 after buying an additional 1,101 shares during the period. 77.86% of the stock is currently owned by institutional investors.
About CyberArk Software
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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