CyberArk Software (NASDAQ:CYBR) Research Coverage Started at Royal Bank of Canada

Research analysts at Royal Bank of Canada started coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $328.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 20.93% from the stock’s current price.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Tuesday, June 25th. Needham & Company LLC reissued a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Barclays upped their price objective on shares of CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group reduced their target price on CyberArk Software from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.32.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $271.23 on Friday. CyberArk Software has a twelve month low of $152.03 and a twelve month high of $293.31. The stock has a market cap of $11.46 billion, a PE ratio of -423.80 and a beta of 1.11. The firm has a 50-day simple moving average of $268.75 and a 200 day simple moving average of $257.64.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The firm had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. During the same quarter in the previous year, the company earned ($0.58) earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. Research analysts forecast that CyberArk Software will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in CyberArk Software in the fourth quarter worth $100,797,000. Swedbank AB bought a new stake in CyberArk Software during the 1st quarter worth approximately $109,466,000. 1832 Asset Management L.P. increased its stake in CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after purchasing an additional 358,602 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in CyberArk Software during the 1st quarter worth approximately $67,736,000. Finally, Contour Asset Management LLC bought a new position in CyberArk Software during the 4th quarter worth about $48,605,000. Institutional investors own 91.84% of the company’s stock.

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.