DA Davidson Trims CyberArk Software (NASDAQ:CYBR) Target Price to $275.00

CyberArk Software (NASDAQ:CYBR) had its target price lowered by stock analysts at DA Davidson from $300.00 to $275.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 20.97% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. KeyCorp lifted their target price on shares of CyberArk Software from $274.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 9th. JMP Securities lifted their price objective on shares of CyberArk Software from $195.00 to $280.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a report on Wednesday. Finally, Citigroup upped their price objective on CyberArk Software from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $265.63.

CyberArk Software Stock Performance

NASDAQ CYBR traded down $6.22 during trading hours on Friday, hitting $227.32. The company had a trading volume of 768,897 shares, compared to its average volume of 461,485. The business has a 50 day moving average of $254.41 and a 200-day moving average of $226.27. CyberArk Software has a 1-year low of $125.15 and a 1-year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. The firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative return on equity of 2.59% and a negative net margin of 3.20%. As a group, analysts expect that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently modified their holdings of CYBR. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in CyberArk Software by 6.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,810 shares of the technology company’s stock valued at $2,098,000 after purchasing an additional 769 shares during the last quarter. Raymond James & Associates raised its position in CyberArk Software by 37.9% during the third quarter. Raymond James & Associates now owns 52,506 shares of the technology company’s stock worth $8,599,000 after acquiring an additional 14,418 shares during the last quarter. JB Capital LLC purchased a new stake in shares of CyberArk Software in the third quarter valued at about $887,000. Solstein Capital LLC lifted its holdings in shares of CyberArk Software by 6.2% in the third quarter. Solstein Capital LLC now owns 24,106 shares of the technology company’s stock valued at $3,948,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of CyberArk Software by 4.8% in the third quarter. Mackenzie Financial Corp now owns 2,862 shares of the technology company’s stock valued at $449,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.