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

According to Zacks, “CyberArk is an Israeli company that specializes in protecting accounts from cyber-attacks. Given a healthy security market, we are optimistic about the company’s product lineup, deal wins and investment plans, which will boost results in the long run. Furthermore, CyberArk’s expansion strategy through acquisitions is encouraging. Investments in product suite and go-to market are the other positives for the company. According to research firm, Markets and Markets, the cyber security market is expected to touch $170.21 billion by 2020 from $106.32 billion in 2015, expanding at an annual rate of 9.8%. We believe that CyberArk Software is in a favorable position to tap the opportunities. However, the stock has underperformed the industry over the last one year. Decelerating revenue growth trend makes us slightly cautious about its near-term performance. Stiff competition from peers and an uncertain macroeconomic environment add to woes.”

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target (down previously from $62.00) on shares of CyberArk Software in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $56.00 price target (down previously from $64.00) on shares of CyberArk Software in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target (down previously from $62.00) on shares of CyberArk Software in a research report on Friday, July 14th. Evercore ISI reiterated a “buy” rating and set a $56.00 price target (down previously from $60.00) on shares of CyberArk Software in a research report on Friday, July 14th. Finally, BidaskClub cut shares of CyberArk Software from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. CyberArk Software has a consensus rating of “Hold” and an average target price of $50.60.

CyberArk Software (CYBR) traded down 0.87% during trading on Tuesday, hitting $42.26. 373,412 shares of the stock were exchanged. CyberArk Software has a 52 week low of $39.34 and a 52 week high of $56.25. The stock has a 50 day moving average of $41.43 and a 200-day moving average of $46.35. The stock has a market cap of $1.25 billion, a P/E ratio of 54.25 and a beta of 2.57.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. lifted its stake in shares of CyberArk Software by 6.4% in the second quarter. Advisor Group Inc. now owns 3,874 shares of the technology company’s stock worth $193,000 after buying an additional 232 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of CyberArk Software by 0.8% in the second quarter. Macquarie Group Ltd. now owns 38,449 shares of the technology company’s stock worth $1,921,000 after buying an additional 292 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of CyberArk Software by 6.1% in the second quarter. Legal & General Group Plc now owns 5,213 shares of the technology company’s stock worth $260,000 after buying an additional 300 shares in the last quarter. Swiss National Bank lifted its stake in shares of CyberArk Software by 1.1% in the first quarter. Swiss National Bank now owns 35,900 shares of the technology company’s stock worth $1,826,000 after buying an additional 400 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of CyberArk Software by 6.4% in the second quarter. Cubist Systematic Strategies LLC now owns 7,962 shares of the technology company’s stock worth $398,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 80.47% 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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