Shares of CyberArk Software CYBR fell in afternoon trading on Friday, closing the day down 16.31% to $42.68 a share after JPMorgan JPM downgraded the security software firm from “overweight” to “neutral.”JPMorgan analyst Sterling Auty said that today’s downgrade is a result of the company’s shortfall in its second quarter financial results.CyberArk now forecasts Q2 revenues of $57 to $57.5 million, down from its previous guidance of $61 to $62 million it reported May 11. This reduction amounts to a $4.25 million hit, falling nearly 7%.The company blames the inability to close deals in Europe, the Middle East and Africa for the loss of revenue. Auty noted that several large deals in the UK and Northern Europe fell through during the quarter as the company’s deals became “backend loaded.” As a result, deals took longer to close and the company failed to execute.JMP Securities JMP analyst Erik Suppiger says that the company’s European market is ‘volatile,” likely from the recent wave of ransomware attacks that has been hitting the continent.CYBR remains a Zacks Rank #3 (Hold), with a Growth score of ‘B.’ CyberArk will provide full financial results and updated guidance during its conference call on August 8.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report J P Morgan Chase & Co (JPM): Free Stock Analysis Report CyberArk Software Ltd. (CYBR): Free Stock Analysis Report JMP Group LLC (JMP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research