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

According to Zacks, “Estimates for CyberArk have been stable off late. We are optimistic about the company, given a healthy security market, strong product lineup, deal wins and investment plans, which are likely to boost results in the long run. Furthermore, CyberArk’s strategy of growing through acquisitions is encouraging. Additionally, investments in product suite and go-to-market are the other positives for the company. Nonetheless, 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. Prior to the second quarter, it was around 25%, but in the last quarter it came even worse at 14%. Prior to the last three quarters, CyberArk had witnessed over 35% revenue growth every quarter. Notably, the stock has underperformed the industry over the last one year.”

A number of other brokerages also recently issued reports on CYBR. Evercore ISI reissued a “buy” rating and issued a $56.00 price target (down from $60.00) on shares of CyberArk Software in a report on Friday, July 14th. JMP Securities decreased their price target on CyberArk Software from $62.00 to $53.00 and set a “market outperform” rating for the company in a report on Friday, July 14th. Stephens downgraded CyberArk Software from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $60.00 to $42.00 in a research note on Friday, July 14th. Deutsche Bank AG downgraded CyberArk Software from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $45.00 in a research note on Friday, July 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $48.00 target price (down from $55.00) on shares of CyberArk Software in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.60.

Shares of CyberArk Software (NASDAQ CYBR) traded up 1.001% during midday trading on Friday, reaching $41.855. 229,767 shares of the company’s stock were exchanged. CyberArk Software has a one year low of $39.34 and a one year high of $56.25. The stock has a market cap of $1.24 billion, a P/E ratio of 53.729 and a beta of 2.58. The company’s 50-day moving average is $40.77 and its 200-day moving average is $47.44.

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A number of large investors have recently modified their holdings of CYBR. Nationwide Fund Advisors grew its holdings in CyberArk Software by 30.2% in the 1st quarter. Nationwide Fund Advisors now owns 24,570 shares of the technology company’s stock valued at $1,250,000 after buying an additional 5,700 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp grew its holdings in CyberArk Software by 61.9% in the 1st quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 6,539 shares of the technology company’s stock valued at $333,000 after buying an additional 2,500 shares in the last quarter. Wells Fargo & Company MN grew its holdings in CyberArk Software by 4.1% in the 1st quarter. Wells Fargo & Company MN now owns 560,530 shares of the technology company’s stock valued at $28,514,000 after buying an additional 22,060 shares in the last quarter. First Trust Advisors LP grew its holdings in CyberArk Software by 61.4% in the 1st quarter. First Trust Advisors LP now owns 125,314 shares of the technology company’s stock valued at $6,375,000 after buying an additional 47,692 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in CyberArk Software by 1,833.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,400 shares of the technology company’s stock valued at $893,000 after buying an additional 16,500 shares in the last quarter. Institutional investors own 81.74% of the company’s stock.

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.

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Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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