CyberArk Software Ltd. (NASDAQ:CYBR)‘s stock had its “overweight” rating reissued by analysts at Piper Jaffray Companies in a report issued on Friday, July 14th. They presently have a $51.00 target price on the technology company’s stock, down from their prior target price of $61.00. Piper Jaffray Companies’ target price indicates a potential upside of 27.28% from the stock’s current price.
CYBR has been the topic of several other research reports. Summit Redstone cut CyberArk Software from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, May 12th. Stifel Nicolaus restated a “buy” rating and set a $55.00 price objective (down previously from $62.00) on shares of CyberArk Software in a research note on Friday, July 14th. Imperial Capital cut CyberArk Software from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $63.00 to $55.00 in a research note on Friday, May 12th. Evercore ISI restated an “in-line” rating and set a $60.00 price objective on shares of CyberArk Software in a research note on Friday, May 12th. Finally, JMP Securities cut their price objective on CyberArk Software from $62.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.17.
Shares of CyberArk Software (NASDAQ CYBR) opened at 40.07 on Friday. The stock’s 50 day moving average price is $44.90 and its 200-day moving average price is $49.41. The stock has a market cap of $1.19 billion, a price-to-earnings 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.
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A number of institutional investors have recently modified their holdings of the stock. BT Investment Management Ltd purchased a new position in shares of CyberArk Software during the second quarter worth about $92,355,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of CyberArk Software during the first quarter worth about $56,420,000. Marshall Wace North America L.P. purchased a new position in shares of CyberArk Software during the first quarter worth about $56,420,000. Epoch Investment Partners Inc. purchased a new position in shares of CyberArk Software during the second quarter worth about $37,195,000. Finally, Columbia Wanger Asset Management LLC purchased a new position in shares of CyberArk Software during the first quarter worth about $30,030,000. 80.84% of the stock is owned by hedge funds and other 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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