CyberArk Software Ltd. (NASDAQ:CYBR) shares dropped 1.4% on Wednesday . The company traded as low as $52.11 and last traded at $52.62, with a volume of 542,095 shares changing hands. The stock had previously closed at $53.37.

CYBR has been the topic of a number of recent research reports. Nomura Holdings Inc. raised CyberArk Software from a “neutral” rating to a “buy” rating in a report on Thursday, March 31st. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $51.00 target price on shares of CyberArk Software in a report on Friday, April 1st. DA Davidson restated a “neutral” rating and issued a $51.00 price target (up previously from $42.00) on shares of CyberArk Software in a research report on Friday, July 8th. Barclays PLC upgraded CyberArk Software from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $44.00 to $60.00 in a research report on Tuesday, July 5th. Finally, Summit Redstone assumed coverage on CyberArk Software in a research report on Wednesday, June 29th. They issued a “buy” rating and a $55.00 price target for the company. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. CyberArk Software currently has a consensus rating of “Buy” and a consensus target price of $57.74.

The stock’s 50 day moving average is $48.85 and its 200-day moving average is $42.65. The company has a market capitalization of $1.56 billion and a price-to-earnings ratio of 72.39.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $46.91 million for the quarter, compared to analyst estimates of $43.38 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis. On average, equities research analysts predict that CyberArk Software Ltd. will post $0.92 earnings per share for the current fiscal year.

Other hedge funds recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of CyberArk Software by 1.2% in the fourth quarter. Bank of Montreal Can now owns 26,300 shares of the company’s stock valued at $1,188,000 after buying an additional 300 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of CyberArk Software by 3.9% in the fourth quarter. Stephens Investment Management Group LLC now owns 318,750 shares of the company’s stock valued at $14,388,000 after buying an additional 11,960 shares during the last quarter. Redwood Investments LLC boosted its stake in shares of CyberArk Software by 57.5% in the fourth quarter. Redwood Investments LLC now owns 36,388 shares of the company’s stock valued at $1,643,000 after buying an additional 13,290 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of CyberArk Software by 56.8% in the fourth quarter. Marshall Wace LLP now owns 47,173 shares of the company’s stock valued at $2,129,000 after buying an additional 17,095 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of CyberArk Software by 58.2% in the fourth quarter. First Trust Advisors LP now owns 76,591 shares of the company’s stock valued at $3,457,000 after buying an additional 28,175 shares during the last quarter.

CyberArk Software Ltd. (CyberArk) provides information technology (IT) security solutions that protect organizations from cyber-attacks. The Company’s products include Privileged Account Security Solution and Sensitive Information Management Solution. Its Privileged Account Security Solution enables its customers to secure, manage and monitor privileged account access and activities.

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