Morgan Stanley Cuts CyberArk Software (NASDAQ:CYBR) Price Target to $380.00

CyberArk Software (NASDAQ:CYBR) had its target price lowered by analysts at Morgan Stanley from $390.00 to $380.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target points to a potential upside of 12.64% from the stock’s current price.

Other analysts have also recently issued reports about the company. KeyCorp increased their target price on CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Canaccord Genuity Group increased their price objective on CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on shares of CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. DA Davidson decreased their target price on shares of CyberArk Software from $475.00 to $415.00 and set a “buy” rating for the company in a research report on Monday. Finally, Robert W. Baird increased their price target on CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $414.29.

CyberArk Software Price Performance

NASDAQ:CYBR traded up $3.02 during midday trading on Wednesday, reaching $337.35. The stock had a trading volume of 121,873 shares, compared to its average volume of 529,185. The stock has a market capitalization of $16.67 billion, a P/E ratio of -173.00 and a beta of 1.00. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The firm’s fifty day simple moving average is $354.77 and its 200-day simple moving average is $331.43.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, equities research analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently added to or reduced their stakes in CYBR. Geode Capital Management LLC raised its position in shares of CyberArk Software by 4.1% during the third quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock worth $108,020,000 after purchasing an additional 14,724 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in CyberArk Software during the third quarter worth $144,000. Oddo BHF Asset Management Sas purchased a new position in shares of CyberArk Software in the 3rd quarter worth about $1,135,000. Central Pacific Bank Trust Division purchased a new position in CyberArk Software in the fourth quarter valued at about $860,000. Finally, Nordea Investment Management AB grew its holdings in CyberArk Software by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the technology company’s stock valued at $993,000 after purchasing an additional 221 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Company Profile

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.