CyberArk (NASDAQ:CYBR) Rating Increased to Buy at Bank of America

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Bank of America upgraded shares of CyberArk (NASDAQ:CYBR) from a neutral rating to a buy rating in a research report report published on Friday, March 9th, Marketbeat.com reports. Bank of America currently has $55.63 target price on the technology company’s stock, up from their prior target price of $39.34.

A number of other equities analysts have also weighed in on CYBR. Needham & Company LLC restated a buy rating and issued a $57.00 price objective (up from $55.00) on shares of CyberArk in a report on Wednesday, March 7th. BidaskClub upgraded shares of CyberArk from a sell rating to a hold rating in a report on Saturday, February 3rd. Zacks Investment Research lowered shares of CyberArk from a hold rating to a sell rating in a report on Friday, February 23rd. Cowen restated a hold rating on shares of CyberArk in a report on Friday, February 16th. Finally, Piper Jaffray restated an overweight rating and issued a $59.00 price objective on shares of CyberArk in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $51.89.

Shares of CYBR stock traded down $0.34 during trading hours on Friday, hitting $49.71. 288,786 shares of the company’s stock traded hands, compared to its average volume of 504,909. CyberArk has a 12-month low of $39.34 and a 12-month high of $55.63. The firm has a market capitalization of $1,815.21, a price-to-earnings ratio of 68.10, a PEG ratio of 5.21 and a beta of 2.03.

CyberArk (NASDAQ:CYBR) last released its earnings results on Thursday, February 15th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. CyberArk had a net margin of 6.12% and a return on equity of 6.88%. The firm had revenue of $80.37 million during the quarter, compared to analyst estimates of $75.62 million. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. analysts forecast that CyberArk will post 0.54 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its position in CyberArk by 25.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,264 shares of the technology company’s stock worth $257,000 after purchasing an additional 1,266 shares during the period. Commonwealth Equity Services Inc grew its position in CyberArk by 17.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 10,306 shares of the technology company’s stock worth $422,000 after purchasing an additional 1,520 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in CyberArk by 0.9% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 172,116 shares of the technology company’s stock worth $7,057,000 after purchasing an additional 1,524 shares during the period. US Bancorp DE grew its position in CyberArk by 25.5% in the 4th quarter. US Bancorp DE now owns 7,615 shares of the technology company’s stock worth $315,000 after purchasing an additional 1,546 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in CyberArk by 45.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,507 shares of the technology company’s stock worth $226,000 after purchasing an additional 1,711 shares during the period. 74.93% of the stock is owned by institutional investors and hedge funds.

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CyberArk Company Profile

CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.

Analyst Recommendations for CyberArk (NASDAQ:CYBR)

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