CyberArk Software (NASDAQ:CYBR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $310.00 price objective on the technology company’s stock.

CYBR has been the subject of several other research reports. KeyCorp boosted their price objective on CyberArk Software from $274.00 to $305.00 and gave the company an overweight rating in a research report on Friday, February 9th. Rosenblatt Securities restated a buy rating and set a $310.00 target price on shares of CyberArk Software in a report on Wednesday. Wells Fargo & Company upped their target price on CyberArk Software from $250.00 to $275.00 and gave the company an overweight rating in a report on Monday, January 29th. Truist Financial upped their target price on CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, Cantor Fitzgerald restated an overweight rating and set a $300.00 target price on shares of CyberArk Software in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, CyberArk Software presently has a consensus rating of Moderate Buy and a consensus target price of $265.63.

CyberArk Software Trading Down 2.7 %

CYBR stock traded down $6.22 during midday trading on Friday, hitting $227.32. The company had a trading volume of 768,897 shares, compared to its average volume of 461,485. CyberArk Software has a 52 week low of $125.15 and a 52 week high of $283.00. The stock’s 50 day moving average price is $254.41 and its 200 day moving average price is $225.88. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of -355.19 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 2.59% and a negative net margin of 3.20%. The firm had revenue of $223.10 million during the quarter, compared to the consensus estimate of $209.65 million. Analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its position in shares of CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after buying an additional 472,961 shares during the last quarter. Polar Capital Holdings Plc boosted its position in shares of CyberArk Software by 15.4% during the third quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock valued at $97,412,000 after buying an additional 79,506 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of CyberArk Software by 2.1% during the third quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock valued at $90,724,000 after buying an additional 11,387 shares during the last quarter. Norges Bank purchased a new stake in shares of CyberArk Software during the fourth quarter valued at $100,797,000. Finally, Nomura Holdings Inc. boosted its position in shares of CyberArk Software by 9.5% during the third quarter. Nomura Holdings Inc. now owns 364,875 shares of the technology company’s stock valued at $59,756,000 after buying an additional 31,660 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.