CyberArk Software Ltd. (NASDAQ:CYBR) was downgraded by investment analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report issued on Friday, July 14th, MarketBeat Ratings reports. They presently have a $45.00 price target on the technology company’s stock, down from their previous price target of $63.00. J P Morgan Chase & Co’s price objective would suggest a potential upside of 12.30% from the company’s current price.
A number of other research firms have also recently commented on CYBR. Imperial Capital cut CyberArk Software from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $63.00 to $55.00 in a report on Friday, May 12th. Piper Jaffray Companies lowered their price target on CyberArk Software from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, May 12th. Summit Redstone cut CyberArk Software from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, May 12th. Bank of America Corporation cut CyberArk Software from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $62.00 to $43.00 in a report on Friday, May 12th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $60.00 price objective on shares of CyberArk Software in a report on Friday, May 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.17.
Shares of CyberArk Software (CYBR) opened at 40.07 on Friday. The company has a 50-day moving average of $44.90 and a 200-day moving average of $49.41. The stock has a market capitalization of $1.19 billion, a P/E ratio of 51.44 and a beta of 2.57. CyberArk Software has a 52 week low of $39.57 and a 52 week high of $59.28.
A number of institutional investors have recently made changes to their positions in the stock. Epoch Investment Partners Inc. acquired a new position in shares of CyberArk Software during the second quarter valued at approximately $37,195,000. Senvest Management LLC acquired a new position in shares of CyberArk Software during the second quarter valued at approximately $10,714,000. Advisor Group Inc. increased its position in shares of CyberArk Software by 6.4% in the second quarter. Advisor Group Inc. now owns 3,874 shares of the technology company’s stock valued at $193,000 after buying an additional 232 shares during the period. Vanguard Group Inc. increased its position in shares of CyberArk Software by 59.5% in the second quarter. Vanguard Group Inc. now owns 18,495 shares of the technology company’s stock valued at $924,000 after buying an additional 6,897 shares during the period. Finally, Northern Trust Corp increased its position in shares of CyberArk Software by 25.9% in the second quarter. Northern Trust Corp now owns 86,093 shares of the technology company’s stock valued at $4,300,000 after buying an additional 17,695 shares during the period. 80.84% of the stock is currently owned by institutional investors.
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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