CyberArk Software (NASDAQ:CYBR) Price Target Cut to $425.00 by Analysts at KeyCorp

CyberArk Software (NASDAQ:CYBR) had its price objective cut by investment analysts at KeyCorp from $485.00 to $425.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would indicate a potential upside of 30.43% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CYBR. StockNews.com cut shares of CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. JMP Securities upped their price objective on CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group lifted their target price on CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $480.00 price target on shares of CyberArk Software in a research note on Thursday, March 20th. Finally, Stifel Nicolaus lifted their price objective on shares of CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $412.14.

CyberArk Software Trading Down 1.6 %

CyberArk Software stock opened at $325.84 on Thursday. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The company has a fifty day simple moving average of $351.30 and a 200 day simple moving average of $331.98. The company has a market cap of $16.11 billion, a P/E ratio of -167.10 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, equities research analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares in the last quarter. Thoma Bravo L.P. bought a new position in shares of CyberArk Software in the 4th quarter valued at $380,637,000. First Trust Advisors LP raised its holdings in shares of CyberArk Software by 2.3% during the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after buying an additional 20,832 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of CyberArk Software by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock worth $292,651,000 after buying an additional 68,359 shares during the last quarter. Finally, Norges Bank acquired a new stake in CyberArk Software in the fourth quarter valued at about $203,375,000. 91.84% of the stock is owned by institutional investors.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.