Zacks Investment Research cut shares of CyberArk Software Ltd. (NASDAQ:CYBR) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “Estimates of information technology security solutions provider, CyberArk have moved south off late. The company also provided sluggish revenue guidance for the third quarter and full-year 2017. Notably, the stock has underperformed the industry over the last one year. Decelerating revenue growth trend makes us slightly cautious about its near-term performance. It should be noted that, in the last three quarters the company has reported the slowest revenue growth rate since it was enlisted in Sep 2014. Intensifying competition from peers such as CA Inc. and Microsoft, and an uncertain macroeconomic environment add to woes. Nonetheless, CyberArk’s strategy of growing through acquisitions is encouraging. Additionally, investments in product suite and go-to-market are the other positives. “

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of CyberArk Software from a buy rating to a strong-buy rating in a research report on Saturday, July 1st. Evercore ISI reaffirmed a buy rating and issued a $56.00 price objective (down previously from $60.00) on shares of CyberArk Software in a research report on Friday, July 14th. J P Morgan Chase & Co downgraded shares of CyberArk Software from an overweight rating to a neutral rating and lowered their price objective for the company from $63.00 to $45.00 in a research report on Friday, July 14th. ValuEngine downgraded shares of CyberArk Software from a hold rating to a sell rating in a research report on Friday, September 1st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $56.00 price objective (down previously from $64.00) on shares of CyberArk Software in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. CyberArk Software presently has a consensus rating of Hold and a consensus price target of $50.60.

CyberArk Software (NASDAQ:CYBR) opened at 42.85 on Thursday. The company has a 50-day moving average of $40.76 and a 200-day moving average of $47.20. CyberArk Software has a 52 week low of $39.34 and a 52 week high of $56.25. The stock has a market cap of $1.27 billion, a P/E ratio of 55.01 and a beta of 2.58.

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A number of institutional investors and hedge funds have recently made changes to their positions in CYBR. BT Investment Management Ltd bought a new position in CyberArk Software during the second quarter worth $92,355,000. Matrix Capital Management Company LP bought a new position in CyberArk Software during the second quarter worth $74,650,000. MARSHALL WACE ASIA Ltd bought a new position in CyberArk Software during the first quarter worth $56,420,000. Marshall Wace North America L.P. bought a new position in CyberArk Software during the first quarter worth $56,420,000. Finally, ETF Managers Group LLC bought a new position in CyberArk Software during the second quarter worth $44,112,000. Hedge funds and other institutional investors own 80.47% of the company’s stock.

CyberArk Software Company Profile

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.

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Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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