Guggenheim Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Research analysts at Guggenheim started coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $200.00 price target on the technology company’s stock. Guggenheim’s price objective indicates a potential upside of 18.80% from the stock’s current price.

A number of other equities research analysts have also weighed in on CYBR. Oppenheimer lifted their target price on shares of CyberArk Software from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 target price on shares of CyberArk Software in a research report on Tuesday, July 18th. Bank of America raised their target price on CyberArk Software from $175.00 to $187.00 in a research note on Thursday, May 25th. Needham & Company LLC upped their price target on CyberArk Software from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Finally, Wolfe Research raised their price objective on CyberArk Software from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $184.43.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $168.35 on Thursday. The company has a market capitalization of $6.91 billion, a P/E ratio of -59.91 and a beta of 1.04. CyberArk Software has a fifty-two week low of $113.19 and a fifty-two week high of $171.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a 50 day moving average price of $158.76 and a two-hundred day moving average price of $148.93.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.28. The company had revenue of $175.84 million during the quarter, compared to analyst estimates of $173.20 million. CyberArk Software had a negative net margin of 17.55% and a negative return on equity of 15.40%. Analysts expect that CyberArk Software will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in shares of CyberArk Software by 15.6% during the first quarter. Raymond James & Associates now owns 12,520 shares of the technology company’s stock worth $2,113,000 after buying an additional 1,691 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of CyberArk Software by 86.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,837 shares of the technology company’s stock valued at $1,322,000 after buying an additional 3,634 shares during the period. PNC Financial Services Group Inc. raised its position in shares of CyberArk Software by 29.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the technology company’s stock valued at $498,000 after buying an additional 678 shares during the period. Yousif Capital Management LLC acquired a new position in CyberArk Software in the first quarter valued at approximately $293,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in CyberArk Software by 16.8% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,390 shares of the technology company’s stock valued at $235,000 after purchasing an additional 200 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Israel, Europe, the Middle East, Africa, the United Kingdom, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.