BidaskClub Downgrades CyberArk Software Ltd. (CYBR) to Buy

BidaskClub lowered shares of CyberArk Software Ltd. (NASDAQ:CYBR) from a strong-buy rating to a buy rating in a research report released on Monday, July 24th.

A number of other brokerages have also recently issued reports on CYBR. Summit Redstone cut CyberArk Software from a buy rating to a hold rating and set a $50.00 price objective for the company. in a report on Friday, May 12th. Bank of America Corporation cut CyberArk Software from a buy rating to an underperform rating and cut their price objective for the company from $62.00 to $43.00 in a report on Friday, May 12th. 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 report on Friday, May 12th. Evercore ISI reaffirmed an in-line rating and issued a $60.00 price target on shares of CyberArk Software in a report on Friday, May 12th. Finally, Piper Jaffray Companies cut their price target on CyberArk Software from $63.00 to $61.00 and set an overweight rating for the company in a report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $51.17.

CyberArk Software (CYBR) traded down 0.35% during mid-day trading on Monday, hitting $40.07. 478,537 shares of the company were exchanged. The stock’s 50 day moving average is $44.90 and its 200-day moving average is $49.41. The company 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 12-month low of $39.57 and a 12-month high of $59.28.

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A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of CyberArk Software during the first quarter valued at $102,000. BNP Paribas Arbitrage SA boosted its stake in shares of CyberArk Software by 198.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,796 shares of the technology company’s stock valued at $190,000 after buying an additional 2,524 shares in the last quarter. Advisor Group Inc. raised its position in CyberArk Software by 6.4% in the second quarter. Advisor Group Inc. now owns 3,874 shares of the technology company’s stock valued at $193,000 after buying an additional 232 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in CyberArk Software during the first quarter valued at about $201,000. Finally, Eastern Bank bought a new position in CyberArk Software during the first quarter valued at about $203,000. 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.

Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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