CyberArk Software (NASDAQ:CYBR) Raised to Buy at StockNews.com

CyberArk Software (NASDAQ:CYBR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other research analysts have also recently weighed in on the stock. Truist Financial restated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. JMP Securities upped their price objective on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their target price on CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. KeyCorp upped their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Mizuho boosted their price objective on CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $312.13 on Monday. The company has a market capitalization of $13.60 billion, a P/E ratio of 1,156.08 and a beta of 1.13. The company has a 50 day simple moving average of $300.33 and a 200-day simple moving average of $277.29. CyberArk Software has a 1 year low of $198.01 and a 1 year high of $333.32.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period last year, the company earned ($0.31) EPS. The company’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. Groupama Asset Managment raised its position in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. RGM Capital LLC lifted its stake in shares of CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its position in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after buying an additional 14,927 shares in the last quarter. Finally, Swedbank AB increased its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after acquiring an additional 45,799 shares during the period. Institutional investors and hedge funds 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.