CyberArk Software (NASDAQ:CYBR) Receives New Coverage from Analysts at Scotiabank

Scotiabank began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report issued on Monday morning, Marketbeat reports. The firm issued a sector outperform rating and a $340.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays upped their price target on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Friday, August 9th. Royal Bank of Canada began coverage on shares of CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 price target on the stock. KeyCorp lifted their target price on shares of CyberArk Software from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.19.

CyberArk Software Stock Up 0.0 %

Shares of NASDAQ:CYBR opened at $300.06 on Monday. CyberArk Software has a twelve month low of $154.76 and a twelve month high of $308.63. The stock’s 50 day moving average is $280.81 and its 200-day moving average is $261.38. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -468.84 and a beta of 1.12.

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

Institutional Investors Weigh In On CyberArk Software

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Toth Financial Advisory Corp grew its holdings in CyberArk Software by 3.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,696 shares of the technology company’s stock valued at $786,000 after buying an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CyberArk Software by 45.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 171,893 shares of the technology company’s stock valued at $50,126,000 after buying an additional 53,502 shares in the last quarter. Nepsis Inc. lifted its holdings in shares of CyberArk Software by 2.9% in the third quarter. Nepsis Inc. now owns 57,239 shares of the technology company’s stock worth $16,691,000 after buying an additional 1,595 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of CyberArk Software by 49.4% in the third quarter. Blue Trust Inc. now owns 1,155 shares of the technology company’s stock valued at $316,000 after acquiring an additional 382 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.