CyberArk Software (NASDAQ:CYBR) Rating Reiterated by Needham & Company LLC

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $310.00 target price on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 36.37% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CYBR. UBS Group upped their target price on shares of CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Oppenheimer increased their price target on shares of CyberArk Software from $195.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, January 8th. Mizuho increased their price target on shares of CyberArk Software from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 9th. Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Wednesday. Finally, BTIG Research assumed coverage on shares of CyberArk Software in a report on Thursday, March 28th. They issued a “buy” rating and a $317.00 price target on the stock. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.63.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $227.32 on Friday. The firm’s 50-day moving average is $254.41 and its 200-day moving average is $226.27. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of -355.19 and a beta of 1.06. CyberArk Software has a 52-week low of $125.15 and a 52-week high of $283.00.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.59%. Sell-side analysts predict that CyberArk Software will post -1.46 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several large investors have recently made changes to their positions in CYBR. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of CyberArk Software by 6.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,810 shares of the technology company’s stock worth $2,098,000 after acquiring an additional 769 shares in the last quarter. Raymond James & Associates lifted its stake in CyberArk Software by 37.9% in the 3rd quarter. Raymond James & Associates now owns 52,506 shares of the technology company’s stock valued at $8,599,000 after purchasing an additional 14,418 shares during the last quarter. JB Capital LLC bought a new position in CyberArk Software in the 3rd quarter valued at approximately $887,000. Solstein Capital LLC lifted its stake in CyberArk Software by 6.2% in the 3rd quarter. Solstein Capital LLC now owns 24,106 shares of the technology company’s stock valued at $3,948,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in CyberArk Software by 4.8% in the 3rd quarter. Mackenzie Financial Corp now owns 2,862 shares of the technology company’s stock valued at $449,000 after purchasing an additional 131 shares during the last quarter. 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.