CyberArk Software (NASDAQ:CYBR) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a report published on Friday, Benzinga reports. The firm currently has a $285.00 price target on the technology company’s stock.

CYBR has been the topic of several other reports. BTIG Research initiated coverage on CyberArk Software in a research report on Thursday, March 28th. They issued a buy rating and a $317.00 price objective on the stock. JMP Securities lifted their price objective on CyberArk Software from $195.00 to $280.00 and gave the stock a market outperform rating in a report on Wednesday, January 31st. Truist Financial upped their target price on shares of CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a research note on Friday, February 9th. KeyCorp lifted their price target on shares of CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Finally, Susquehanna increased their price objective on shares of CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $265.63.

CyberArk Software Trading Up 3.7 %

CyberArk Software stock opened at $235.64 on Friday. CyberArk Software has a 12 month low of $133.84 and a 12 month high of $283.00. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -368.19 and a beta of 1.06. The business’s fifty day simple moving average is $253.97 and its two-hundred day simple moving average is $227.15.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping 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 2.51%. On average, equities research analysts predict that CyberArk Software will post -1.46 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC boosted its position in shares of CyberArk Software by 2.1% during the third quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock worth $90,724,000 after acquiring an additional 11,387 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in CyberArk Software in the 3rd quarter worth $217,000. M&T Bank Corp boosted its holdings in shares of CyberArk Software by 9.2% during the 3rd quarter. M&T Bank Corp now owns 2,723 shares of the technology company’s stock valued at $446,000 after purchasing an additional 230 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of CyberArk Software by 226.3% during the third quarter. Acadian Asset Management LLC now owns 295,893 shares of the technology company’s stock valued at $48,434,000 after purchasing an additional 205,224 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of CyberArk Software by 9.6% in the fourth quarter. Nordea Investment Management AB now owns 2,841 shares of the technology company’s stock worth $624,000 after purchasing an additional 250 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.