CyberArk (NASDAQ:CYBR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “CyberArk provides information technology security solutions. Estimates for the company have been stable of late. CyberArk’s strategy of growing through acquisitions is encouraging. Additionally, investments in product suite and go-to-market sales strategies are the other positives for the company. Nonetheless, we are apprehensive about the increasing operating expenses pertaining to initiatives related to enriching the solutions suite as well as enhancing its sales competency. Though these investments will have benefits over the long term, we anticipate these to be a drag on the company’s profitability and the hence the bottom line in the near term. Notably, the stock has underperformed the industry to which it belongs to in the last one year.”

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CYBR has been the subject of a number of other research reports. ValuEngine lowered shares of CyberArk from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of CyberArk from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target (up previously from $55.00) on shares of CyberArk in a research note on Wednesday, March 7th. Cowen restated a “hold” rating on shares of CyberArk in a research note on Friday, February 16th. Finally, UBS upgraded shares of CyberArk from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $58.00 in a research note on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $51.89.

Shares of NASDAQ CYBR traded up $1.29 during trading on Tuesday, reaching $53.32. 190,413 shares of the stock were exchanged, compared to its average volume of 469,938. CyberArk has a twelve month low of $39.34 and a twelve month high of $55.63. The stock has a market cap of $1,838.69, a P/E ratio of 73.08, a PEG ratio of 5.28 and a beta of 2.03.

CyberArk (NASDAQ:CYBR) last posted its earnings results on Thursday, February 15th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. CyberArk had a net margin of 6.12% and a return on equity of 6.88%. The business had revenue of $80.37 million for the quarter, compared to analysts’ expectations of $75.62 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. equities analysts forecast that CyberArk will post 0.54 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in CyberArk by 25.5% during the fourth quarter. US Bancorp DE now owns 7,615 shares of the technology company’s stock valued at $315,000 after purchasing an additional 1,546 shares during the last quarter. Congress Asset Management Co. MA increased its stake in CyberArk by 2.8% during the fourth quarter. Congress Asset Management Co. MA now owns 73,574 shares of the technology company’s stock valued at $3,045,000 after purchasing an additional 1,978 shares during the last quarter. Stevens First Principles Investment Advisors increased its stake in CyberArk by 26.6% during the fourth quarter. Stevens First Principles Investment Advisors now owns 9,590 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,015 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in CyberArk by 122.5% during the third quarter. Asset Management One Co. Ltd. now owns 4,250 shares of the technology company’s stock valued at $174,000 after purchasing an additional 2,340 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its stake in CyberArk by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 410,153 shares of the technology company’s stock valued at $16,976,000 after purchasing an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 74.92% of the company’s stock.

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About CyberArk

CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.

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Analyst Recommendations for CyberArk (NASDAQ:CYBR)

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