CyberArk Software Ltd. (NASDAQ:CYBR) fell 7.3% during trading on Wednesday . The company traded as low as $50.54 and last traded at $51.30, with a volume of 1,469,962 shares trading hands. The stock had previously closed at $55.31.

A number of brokerages recently commented on CYBR. JPMorgan Chase & Co. reissued a “buy” rating and issued a $48.00 price objective on shares of CyberArk Software in a research note on Sunday, May 29th. Deutsche Bank AG raised their price target on shares of CyberArk Software from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of CyberArk Software in a research note on Wednesday. DA Davidson raised their price target on shares of CyberArk Software from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Nomura raised their price target on shares of CyberArk Software from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $58.37.

The company’s 50-day moving average is $52.48 and its 200-day moving average is $43.92. The firm has a market cap of $1.53 billion and a PE ratio of 71.03.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.09. During the same period in the prior year, the business posted $0.19 EPS. The company earned $50.40 million during the quarter, compared to analysts’ expectations of $48.25 million. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. Equities research analysts expect that CyberArk Software Ltd. will post $0.92 EPS for the current fiscal year.

A number of institutional investors recently modified their holdings of the company. Bank of Montreal Can boosted its position 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 worth $1,188,000 after buying an additional 300 shares in the last quarter. Redwood Investments LLC boosted its position 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 worth $1,643,000 after buying an additional 13,290 shares in the last quarter. Marshall Wace LLP boosted its position 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 worth $2,129,000 after buying an additional 17,095 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its position 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 worth $14,388,000 after buying an additional 11,960 shares in 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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