CyberArk Software Ltd. (CYBR) Downgraded by Zacks Investment Research

CyberArk Software Ltd. (NASDAQ:CYBR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

A number of other research firms also recently issued reports on CYBR. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target (down from $62.00) on shares of CyberArk Software in a research note on Friday, July 14th. Piper Jaffray Companies restated an “overweight” rating and issued a $51.00 price target (down from $61.00) on shares of CyberArk Software in a research note on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price target (down from $62.00) on shares of CyberArk Software in a research note on Friday, July 14th. Imperial Capital dropped their price target on CyberArk Software from $55.00 to $42.00 and set an “in-line” rating on the stock in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $56.00 price target (down from $64.00) on shares of CyberArk Software in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. CyberArk Software presently has a consensus rating of “Hold” and an average target price of $50.60.

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A number of large investors have recently bought and sold shares of the business. Advisor Group Inc. raised its holdings in CyberArk Software by 6.4% during the second quarter. Advisor Group Inc. now owns 3,874 shares of the technology company’s stock valued at $193,000 after acquiring an additional 232 shares during the period. Macquarie Group Ltd. raised its holdings in CyberArk Software by 0.8% during the second quarter. Macquarie Group Ltd. now owns 38,449 shares of the technology company’s stock valued at $1,921,000 after acquiring an additional 292 shares during the period. Legal & General Group Plc raised its holdings in CyberArk Software by 6.1% during the second quarter. Legal & General Group Plc now owns 5,213 shares of the technology company’s stock valued at $260,000 after acquiring an additional 300 shares during the period. Swiss National Bank raised its holdings in CyberArk Software by 1.1% during the first quarter. Swiss National Bank now owns 35,900 shares of the technology company’s stock valued at $1,826,000 after acquiring an additional 400 shares during the period. Finally, US Bancorp DE raised its holdings in CyberArk Software by 7.3% during the first quarter. US Bancorp DE now owns 6,959 shares of the technology company’s stock valued at $354,000 after acquiring an additional 476 shares during the period. 80.47% of the stock is currently owned by institutional investors and hedge funds.

About CyberArk Software

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.

Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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