CyberArk Software (NASDAQ:CYBR) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Friday morning, Benzinga reports. They currently have a $310.00 target price on the technology company’s stock.

Several other research analysts have also recently weighed in on the stock. DA Davidson upped their price target on shares of CyberArk Software from $275.00 to $285.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Guggenheim reaffirmed a buy rating and issued a $300.00 target price on shares of CyberArk Software in a research note on Tuesday, June 25th. Barclays lifted their price target on CyberArk Software from $280.00 to $315.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Rosenblatt Securities reaffirmed a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Finally, Robert W. Baird boosted their target price on CyberArk Software from $295.00 to $315.00 and gave the company an outperform rating in a research note on Friday. Two investment 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 a consensus rating of Moderate Buy and a consensus price target of $290.83.

CyberArk Software Stock Performance

CYBR opened at $270.90 on Friday. CyberArk Software has a twelve month low of $148.01 and a twelve month high of $284.10. The firm has a market cap of $11.45 billion, a PE ratio of -423.28 and a beta of 1.14. The firm’s fifty day moving average is $258.55 and its two-hundred day moving average is $252.89.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. The business had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. During the same quarter last year, the business posted ($0.58) EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. Equities analysts forecast that CyberArk Software will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYBR. Montag A & Associates Inc. acquired a new stake in shares of CyberArk Software in the first quarter valued at approximately $27,000. Mather Group LLC. acquired a new position in CyberArk Software in the 2nd quarter valued at $27,000. ORG Partners LLC bought a new stake in shares of CyberArk Software during the 2nd quarter valued at $33,000. Arcadia Investment Management Corp MI acquired a new stake in shares of CyberArk Software during the 1st quarter worth $34,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in shares of CyberArk Software during the 1st quarter worth $34,000. 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.