CyberArk Software (NASDAQ:CYBR) Stock Rating Reaffirmed by Bank of America

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by analysts at Bank of America in a research note issued on Wednesday, Benzinga reports. They presently have a $315.00 target price on the technology company’s stock. Bank of America‘s target price points to a potential upside of 28.53% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley cut CyberArk Software from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $195.00 to $240.00 in a report on Tuesday, January 9th. Susquehanna boosted their price target on CyberArk Software from $255.00 to $310.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a report on Wednesday, April 17th. Citigroup lifted their price objective on CyberArk Software from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Oppenheimer lifted their price objective on CyberArk Software from $195.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. Two research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.54.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $245.07 on Wednesday. The stock has a fifty day moving average price of $256.39 and a 200 day moving average price of $222.88. The stock has a market cap of $10.36 billion, a PE ratio of -151.28 and a beta of 1.05. CyberArk Software has a 1 year low of $120.11 and a 1 year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. As a group, equities research analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. TimesSquare Capital Management LLC lifted its stake in shares of CyberArk Software by 2.1% in the third quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock worth $90,724,000 after acquiring an additional 11,387 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of CyberArk Software in the third quarter worth about $217,000. M&T Bank Corp lifted its stake in shares of CyberArk Software by 9.2% in the third quarter. M&T Bank Corp now owns 2,723 shares of the technology company’s stock worth $446,000 after acquiring an additional 230 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of CyberArk Software by 226.3% in the third quarter. Acadian Asset Management LLC now owns 295,893 shares of the technology company’s stock worth $48,434,000 after acquiring an additional 205,224 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of CyberArk Software by 9.6% in the fourth quarter. Nordea Investment Management AB now owns 2,841 shares of the technology company’s stock worth $624,000 after acquiring an additional 250 shares in the last quarter. 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.