CyberArk Software (NASDAQ:CYBR) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Tuesday morning, Benzinga reports. They currently have a $300.00 price objective on the technology company’s stock.

CYBR has been the topic of several other research reports. Bank of America reiterated a buy rating and set a $315.00 price objective on shares of CyberArk Software in a research report on Wednesday, April 24th. Cantor Fitzgerald restated an overweight rating and issued a $300.00 price target on shares of CyberArk Software in a research report on Friday, June 21st. Canaccord Genuity Group reduced their price target on shares of CyberArk Software from $300.00 to $280.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Needham & Company LLC restated a buy rating and issued a $310.00 price target on shares of CyberArk Software in a research report on Monday, May 20th. Finally, DA Davidson boosted their price target on shares of CyberArk Software from $275.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $275.00.

CyberArk Software Price Performance

CyberArk Software stock opened at $262.75 on Tuesday. The stock has a market cap of $11.10 billion, a P/E ratio of -410.55 and a beta of 1.08. CyberArk Software has a 1 year low of $142.92 and a 1 year high of $283.00. The firm’s 50 day moving average price is $241.93 and its 200-day moving average price is $242.36.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.67. The firm had revenue of $221.55 million for the quarter, compared to analysts’ expectations of $213.42 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. As a group, equities analysts expect that CyberArk Software will post -1.24 EPS for the current year.

Institutional Trading of CyberArk Software

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock worth $230,871,000 after acquiring an additional 472,961 shares during the period. Polar Capital Holdings Plc lifted its stake in CyberArk Software by 15.4% in the third quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock worth $97,412,000 after acquiring an additional 79,506 shares during the period. Norges Bank purchased a new stake in CyberArk Software in the fourth quarter worth about $100,797,000. Whale Rock Capital Management LLC lifted its stake in CyberArk Software by 21.6% in the first quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after acquiring an additional 81,801 shares during the period. Finally, Swedbank AB purchased a new stake in CyberArk Software in the first quarter worth about $109,466,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

About CyberArk Software

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.