CyberArk Software (NASDAQ:CYBR) Upgraded to Strong-Buy at Zacks Research

CyberArk Software (NASDAQ:CYBR) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. JMP Securities reiterated a “market perform” rating on shares of CyberArk Software in a report on Tuesday, September 23rd. Citizens Jmp downgraded shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings initiated coverage on shares of CyberArk Software in a research note on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. DA Davidson reissued a “buy” rating and set a $518.00 price target on shares of CyberArk Software in a research report on Friday, November 7th. Finally, Barclays restated an “equal weight” rating and issued a $520.00 price objective (up previously from $440.00) on shares of CyberArk Software in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CyberArk Software presently has a consensus rating of “Hold” and a consensus price target of $462.63.

CyberArk Software Stock Performance

CYBR opened at $460.93 on Wednesday. The company has a market capitalization of $23.27 billion, a price-to-earnings ratio of -99.98, a P/E/G ratio of 21.74 and a beta of 0.92. The business’s 50-day moving average price is $467.04 and its two-hundred day moving average price is $452.31. CyberArk Software has a 1 year low of $288.63 and a 1 year high of $526.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.14 and a quick ratio of 2.14.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.28. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The company had revenue of $342.84 million during the quarter, compared to analysts’ expectations of $328.52 million. During the same period in the prior year, the firm earned $0.94 earnings per share. CyberArk Software’s revenue for the quarter was up 42.8% compared to the same quarter last year. Equities analysts expect that CyberArk Software will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors have recently bought and sold shares of CYBR. Cornerstone Planning Group LLC lifted its position in shares of CyberArk Software by 5,300.0% in the third quarter. Cornerstone Planning Group LLC now owns 54 shares of the technology company’s stock valued at $28,000 after buying an additional 53 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in CyberArk Software by 120.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 64 shares of the technology company’s stock valued at $31,000 after purchasing an additional 35 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in CyberArk Software during the second quarter worth $30,000. NewSquare Capital LLC boosted its position in CyberArk Software by 78.0% during the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company’s stock worth $30,000 after purchasing an additional 32 shares during the period. Finally, AlphaCore Capital LLC acquired a new position in shares of CyberArk Software in the second quarter valued at $33,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Company Profile

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.