CyberArk Software’s (CYBR) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report released on Tuesday morning,Benzinga reports. They currently have a $360.00 target price on the technology company’s stock.

CYBR has been the topic of several other reports. Wedbush boosted their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Needham & Company LLC raised their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. Morgan Stanley reiterated an “equal weight” rating and set a $316.00 price target on shares of CyberArk Software in a research report on Tuesday, December 31st. Finally, Piper Sandler raised their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.22.

CyberArk Software Stock Up 2.3 %

Shares of NASDAQ CYBR opened at $355.51 on Tuesday. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 1,316.75 and a beta of 1.13. The firm’s fifty day moving average is $322.94 and its 200 day moving average is $292.18. CyberArk Software has a 52 week low of $221.12 and a 52 week high of $357.56.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.31) earnings per share. Equities research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. Choreo LLC bought a new stake in CyberArk Software during the second quarter valued at about $302,000. DekaBank Deutsche Girozentrale boosted its position in shares of CyberArk Software by 10.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,444 shares of the technology company’s stock worth $657,000 after acquiring an additional 229 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in CyberArk Software by 31.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,333 shares of the technology company’s stock worth $3,646,000 after purchasing an additional 3,208 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CyberArk Software by 506.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after purchasing an additional 5,483 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of CyberArk Software by 0.5% in the second quarter. Primecap Management Co. CA now owns 61,850 shares of the technology company’s stock worth $16,911,000 after purchasing an additional 300 shares during the last quarter. 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.