Bank of America Reiterates “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $315.00 price objective on the technology company’s stock. Bank of America‘s target price suggests a potential upside of 27.26% from the company’s previous close.

Several other equities analysts have also commented on CYBR. Susquehanna increased their target price on shares of CyberArk Software from $255.00 to $310.00 and gave the company a “positive” rating in a report on Friday, February 9th. UBS Group boosted their price objective on shares of CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of CyberArk Software in a research report on Wednesday, April 17th. Mizuho boosted their target price on CyberArk Software from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC raised their price target on CyberArk Software from $245.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $258.54.

CyberArk Software Stock Up 3.1 %

NASDAQ:CYBR traded up $7.41 during midday trading on Wednesday, hitting $247.52. The company had a trading volume of 365,200 shares, compared to its average volume of 575,916. The stock’s fifty day moving average price is $257.15 and its 200-day moving average price is $222.57. CyberArk Software has a 52-week low of $120.11 and a 52-week high of $283.00. The company has a market capitalization of $10.46 billion, a PE ratio of -152.59 and a beta of 1.05.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data 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 firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. As a group, research analysts forecast that CyberArk Software will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its position in shares of CyberArk Software by 34.1% during the 3rd quarter. National Bank of Canada FI now owns 613 shares of the technology company’s stock valued at $100,000 after buying an additional 156 shares in the last quarter. Bfsg LLC raised its position in CyberArk Software by 27.3% during the third quarter. Bfsg LLC now owns 8,583 shares of the technology company’s stock valued at $1,406,000 after purchasing an additional 1,839 shares during the period. AMI Asset Management Corp lifted its stake in shares of CyberArk Software by 1.9% in the 3rd quarter. AMI Asset Management Corp now owns 30,451 shares of the technology company’s stock valued at $4,987,000 after purchasing an additional 580 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of CyberArk Software by 6.4% in 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 purchasing an additional 769 shares during the period. Finally, Sheets Smith Wealth Management increased its position in shares of CyberArk Software by 2.5% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,778 shares of the technology company’s stock valued at $455,000 after purchasing an additional 68 shares during the last quarter. Institutional investors 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.