CyberArk Software (NASDAQ:CYBR) Shares Down 3.7% After Analyst Downgrade

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s share price fell 3.7% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $485.00 to $425.00. KeyCorp currently has an overweight rating on the stock. CyberArk Software traded as low as $336.17 and last traded at $336.50. 447,276 shares traded hands during trading, a decline of 15% from the average session volume of 527,593 shares. The stock had previously closed at $349.44.

Several other research analysts have also weighed in on CYBR. JPMorgan Chase & Co. upped their price target on CyberArk Software from $375.00 to $431.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of CyberArk Software from $390.00 to $380.00 and set an "equal weight" rating for the company in a research report on Wednesday. Stephens initiated coverage on shares of CyberArk Software in a research report on Tuesday, April 1st. They set an "overweight" rating and a $440.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $420.00 target price on shares of CyberArk Software in a research note on Friday, April 11th. Finally, Stifel Nicolaus upped their price target on shares of CyberArk Software from $370.00 to $444.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.14.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently bought and sold shares of CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in CyberArk Software in the 4th quarter worth $25,000. TD Private Client Wealth LLC increased its stake in CyberArk Software by 79.1% during the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company's stock valued at $26,000 after acquiring an additional 34 shares during the period. Whipplewood Advisors LLC raised its holdings in CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software in the 4th quarter worth approximately $39,000. Finally, Graney & King LLC acquired a new stake in shares of CyberArk Software during the 4th quarter worth approximately $43,000. Institutional investors own 91.84% of the company's stock.

CyberArk Software Stock Down 1.6 %

The business has a 50-day moving average price of $351.30 and a 200-day moving average price of $331.98. The firm has a market capitalization of $16.11 billion, a P/E ratio of -167.10 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts forecast that CyberArk Software Ltd. will post -0.47 EPS for the current year.

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.