CyberArk Software (NASDAQ:CYBR) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Wednesday morning, Marketbeat reports. The firm issued a neutral rating and a $474.00 price objective on the technology company’s stock.

A number of other research analysts have also issued reports on CYBR. Citizens Jmp lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings initiated coverage on shares of CyberArk Software in a research report on Saturday, November 1st. They set a “sell (d-)” rating for the company. Canaccord Genuity Group cut shares of CyberArk Software from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $440.00 to $502.00 in a research note on Wednesday, October 15th. JMP Securities reissued a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Finally, Citigroup cut shares of CyberArk Software from a “buy” rating to a “hold” rating and raised their target price for the stock from $465.00 to $524.00 in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $462.63.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $451.81 on Wednesday. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of -98.01, a PEG ratio of 24.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.14 and a quick ratio of 2.14. CyberArk Software has a 12 month low of $288.63 and a 12 month high of $526.19. The stock’s 50 day moving average price is $481.84 and its 200 day moving average price is $446.58.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The firm had revenue of $342.84 million during the quarter, compared to analyst estimates of $328.52 million. During the same period last year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 42.8% on a year-over-year basis. Equities research analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. Pentwater Capital Management LP purchased a new position in shares of CyberArk Software during the third quarter valued at $1,770,745,000. Norges Bank acquired a new stake in CyberArk Software during the 2nd quarter worth about $444,613,000. Price T Rowe Associates Inc. MD boosted its position in CyberArk Software by 1,598.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company’s stock worth $330,964,000 after acquiring an additional 921,523 shares during the period. Hudson Bay Capital Management LP purchased a new position in CyberArk Software during the 3rd quarter valued at about $230,284,000. Finally, Bank of America Corp DE increased its holdings in shares of CyberArk Software by 88.8% in the 3rd quarter. Bank of America Corp DE now owns 960,708 shares of the technology company’s stock valued at $464,166,000 after purchasing an additional 451,962 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.