CyberArk Software (NASDAQ:CYBR) Price Target Lowered to $275.00 at DA Davidson

CyberArk Software (NASDAQ:CYBR) had its price target trimmed by DA Davidson from $300.00 to $275.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently commented on CYBR. Needham & Company LLC restated a buy rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Friday. KeyCorp increased their price target on CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a report on Friday, February 9th. BTIG Research initiated coverage on CyberArk Software in a research report on Thursday, March 28th. They issued a buy rating and a $317.00 price objective for the company. Bank of America reissued a buy rating and set a $315.00 target price on shares of CyberArk Software in a research note on Wednesday, April 24th. Finally, Susquehanna lifted their price target on shares of CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $265.63.

CyberArk Software Stock Performance

CyberArk Software stock traded down $6.22 during trading hours on Friday, reaching $227.32. 768,897 shares of the company’s stock traded hands, compared to its average volume of 461,485. CyberArk Software has a fifty-two week low of $125.15 and a fifty-two week high of $283.00. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of -355.19 and a beta of 1.06. The firm’s 50 day moving average is $254.41 and its 200-day moving average is $225.88.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.53. The business had revenue of $223.10 million for the quarter, compared to analyst estimates of $209.65 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.59%. Analysts predict that CyberArk Software will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CYBR. Arcadia Investment Management Corp MI bought a new position in shares of CyberArk Software in the 1st quarter valued at about $34,000. Blue Bell Private Wealth Management LLC bought a new position in shares of CyberArk Software in the 1st quarter valued at about $34,000. FinTrust Capital Advisors LLC bought a new position in shares of CyberArk Software in the 4th quarter valued at about $34,000. Assetmark Inc. grew its position in shares of CyberArk Software by 62.1% in the 3rd quarter. Assetmark Inc. now owns 248 shares of the technology company’s stock valued at $41,000 after acquiring an additional 95 shares during the period. Finally, Central Bank & Trust Co. bought a new position in shares of CyberArk Software in the 1st quarter valued at about $53,000. 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.