BidaskClub Downgrades Cyberark Software (CYBR) to Strong Sell

Cyberark Software (NASDAQ:CYBR) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.

Several other equities analysts also recently commented on CYBR. Monness Crespi & Hardt began coverage on Cyberark Software in a research report on Monday, December 18th. They issued a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Cyberark Software in a research report on Tuesday, September 12th. Piper Jaffray Companies set a $47.00 price objective on Cyberark Software and gave the company a “buy” rating in a research report on Monday, October 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Cyberark Software in a research report on Friday, November 3rd. Finally, Zacks Investment Research cut Cyberark Software from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.69.

Shares of Cyberark Software (NASDAQ:CYBR) traded up $0.23 during trading on Wednesday, reaching $42.09. The company’s stock had a trading volume of 411,820 shares, compared to its average volume of 615,567. The company has a market cap of $1,457.06, a P/E ratio of 66.81, a PEG ratio of 3.44 and a beta of 2.59. Cyberark Software has a 12 month low of $39.34 and a 12 month high of $55.65.

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Cyberark Software by 25.2% during the 1st quarter. Geode Capital Management LLC now owns 19,316 shares of the technology company’s stock worth $982,000 after purchasing an additional 3,885 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Cyberark Software during the 2nd quarter worth $639,000. SG Americas Securities LLC lifted its stake in shares of Cyberark Software by 534.1% during the 2nd quarter. SG Americas Securities LLC now owns 12,745 shares of the technology company’s stock worth $637,000 after purchasing an additional 10,735 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cyberark Software by 72.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,084 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 10,518 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Cyberark Software by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 5,213 shares of the technology company’s stock worth $260,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.

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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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