CyberArk Software’s (CYBR) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $300.00 target price on the technology company’s stock.

Several other research firms have also issued reports on CYBR. JMP Securities reaffirmed a market outperform rating and issued a $310.00 target price on shares of CyberArk Software in a report on Monday, June 17th. Guggenheim reaffirmed a buy rating and issued a $300.00 target price on shares of CyberArk Software in a report on Tuesday, June 25th. Bank of America reissued a buy rating and set a $315.00 price objective on shares of CyberArk Software in a report on Wednesday, April 24th. DA Davidson increased their price objective on CyberArk Software from $275.00 to $285.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Finally, BTIG Research initiated coverage on CyberArk Software in a report on Thursday, March 28th. They set a buy rating and a $317.00 price objective for the company. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and an average price target of $280.63.

CyberArk Software Stock Down 2.5 %

Shares of CyberArk Software stock opened at $258.13 on Monday. The company has a market cap of $10.91 billion, a PE ratio of -403.33 and a beta of 1.14. CyberArk Software has a 52 week low of $142.92 and a 52 week high of $284.10. The business has a 50 day moving average price of $255.09 and a 200-day moving average price of $250.37.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, May 2nd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.67. The company had revenue of $221.55 million during the quarter, compared to analyst estimates of $213.42 million. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. As a group, research analysts anticipate that CyberArk Software will post -1.24 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently made changes to their positions in CYBR. Jennison Associates LLC raised its position in shares of CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock worth $230,871,000 after buying an additional 472,961 shares in the last quarter. Norges Bank purchased a new stake in shares of CyberArk Software in the fourth quarter worth $100,797,000. Swedbank AB purchased a new stake in CyberArk Software during the first quarter valued at about $109,466,000. 1832 Asset Management L.P. raised its position in CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in CyberArk Software during the first quarter valued at about $67,736,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.