JPMorgan Chase & Co. Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

JPMorgan Chase & Co. began coverage on shares of CyberArk Software (NASDAQ:CYBR – Get Rating) in a research note published on Tuesday morning, The Fly reports. The brokerage issued a neutral rating and a $147.00 price target on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC lifted their price target on CyberArk Software from $175.00 to $180.00 and gave the company a buy rating in a report on Friday, November 4th. Canaccord Genuity Group began coverage on CyberArk Software in a research report on Friday, September 30th. They issued a buy rating for the company. Cowen began coverage on CyberArk Software in a research report on Thursday, September 29th. They issued an outperform rating for the company. Morgan Stanley lowered their price objective on CyberArk Software from $184.00 to $162.00 and set an overweight rating for the company in a research report on Thursday, January 12th. Finally, Sumitomo Mitsui Financial Group began coverage on CyberArk Software in a research report on Wednesday, January 4th. They issued a neutral rating and a $145.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $170.87.

CyberArk Software Stock Down 0.1 %

Shares of NASDAQ CYBR opened at $136.13 on Tuesday. The stock has a market cap of $5.54 billion, a PE ratio of -44.05 and a beta of 1.04. The business has a fifty day moving average of $134.56 and a two-hundred day moving average of $141.49. CyberArk Software has a 52-week low of $100.35 and a 52-week high of $180.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.66 and a current ratio of 2.66.

CyberArk Software (NASDAQ:CYBR – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The technology company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.23. CyberArk Software had a negative return on equity of 16.23% and a negative net margin of 21.79%. The business had revenue of $152.67 million during the quarter, compared to analysts’ expectations of $151.18 million. As a group, equities research analysts expect that CyberArk Software will post -3.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of the business. First Trust Advisors LP lifted its holdings in shares of CyberArk Software by 1.1% during the 3rd quarter. First Trust Advisors LP now owns 1,197,670 shares of the technology company’s stock valued at $179,579,000 after purchasing an additional 12,772 shares in the last quarter. Legal & General Group Plc lifted its stake in CyberArk Software by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 1,114,055 shares of the technology company’s stock valued at $142,554,000 after acquiring an additional 61,334 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in CyberArk Software by 1.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 902,654 shares of the technology company’s stock valued at $135,344,000 after acquiring an additional 8,973 shares in the last quarter. abrdn plc lifted its stake in CyberArk Software by 0.9% in the 2nd quarter. abrdn plc now owns 575,354 shares of the technology company’s stock valued at $75,023,000 after acquiring an additional 5,040 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in CyberArk Software in the 3rd quarter valued at approximately $83,093,000. Institutional investors own 91.52% of the company’s stock.

About CyberArk Software

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CyberArk Software Ltd. engages in the development, market, and sale of access security software solutions. The firm’s products include Privilege, Access, and DevSecOps. It offers its products and services to banking, insurance, healthcare, and federal industries. The company was founded by Udi Mokady and Alon Cohen in 1999 and is headquartered in Petah Tikva, Israel.