CyberArk Software Ltd. (CYBR) Downgraded by J P Morgan Chase & Co to “Neutral”

J P Morgan Chase & Co lowered shares of CyberArk Software Ltd. (NASDAQ:CYBR) from an overweight rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has $45.00 target price on the technology company’s stock, down from their prior target price of $63.00.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC started coverage on shares of CyberArk Software in a research note on Tuesday, March 28th. They issued a buy rating and a $62.00 price target for the company. Piper Jaffray Companies decreased 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 note on Friday, May 12th. Bank of America Corporation downgraded shares of CyberArk Software from a buy rating to an underperform rating and decreased their price target for the company from $62.00 to $43.00 in a research note on Friday, May 12th. Vetr downgraded 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 note on Monday, May 8th. Finally, Zacks Investment Research raised shares of CyberArk Software from a sell rating to a hold rating in a research note on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $51.17.

Shares of CyberArk Software (NASDAQ:CYBR) traded down 0.66% during trading on Friday, reaching $42.40. 2,693,847 shares of the company were exchanged. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 48.74 and a beta of 2.66. CyberArk Software has a 52-week low of $41.32 and a 52-week high of $59.28. The stock’s 50-day moving average is $48.75 and its 200-day moving average is $50.35.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Renaissance Technologies LLC purchased a new position in CyberArk Software during the fourth quarter valued at $1,379,000. State Street Corp boosted its position in CyberArk Software by 4.4% in the fourth quarter. State Street Corp now owns 107,840 shares of the technology company’s stock valued at $4,906,000 after buying an additional 4,522 shares during the period. Congress Asset Management Co. MA boosted its position in CyberArk Software by 29.6% in the first quarter. Congress Asset Management Co. MA now owns 173,931 shares of the technology company’s stock valued at $8,848,000 after buying an additional 39,727 shares during the period. Teachers Advisors LLC boosted its position in CyberArk Software by 8.8% in the fourth quarter. Teachers Advisors LLC now owns 332,993 shares of the technology company’s stock valued at $15,151,000 after buying an additional 27,040 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in CyberArk Software by 61.7% in the first quarter. Oppenheimer & Co. Inc. now owns 82,640 shares of the technology company’s stock valued at $4,204,000 after buying an additional 31,532 shares during the period. Institutional investors and hedge funds own 77.51% of the company’s stock.

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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