DA Davidson Has Lowered Expectations for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target lowered by equities researchers at DA Davidson from $475.00 to $415.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 24.13% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus raised their price target on CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a report on Friday, February 14th. Morgan Stanley initiated coverage on shares of CyberArk Software in a research report on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $480.00 target price on shares of CyberArk Software in a report on Thursday, March 20th. Truist Financial lowered their price target on shares of CyberArk Software from $450.00 to $425.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Scotiabank boosted their price objective on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.64.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $334.33 on Monday. The stock has a 50 day moving average price of $354.77 and a 200 day moving average price of $331.43. The stock has a market capitalization of $16.52 billion, a PE ratio of -171.45 and a beta of 1.00. CyberArk Software has a 52 week low of $223.41 and a 52 week high of $421.00.

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%. As a group, research analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MML Investors Services LLC lifted its stake in CyberArk Software by 3.1% in the 3rd quarter. MML Investors Services LLC now owns 8,339 shares of the technology company’s stock valued at $2,432,000 after purchasing an additional 249 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CyberArk Software by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock valued at $108,020,000 after acquiring an additional 14,724 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after acquiring an additional 42 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CyberArk Software during the 3rd quarter valued at $144,000. Finally, Oddo BHF Asset Management Sas bought a new stake in CyberArk Software during the 3rd quarter worth $1,135,000. Institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.