CyberArk Software’s (CYBR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a $310.00 price objective on the technology company’s stock.

Several other research analysts also recently weighed in on the company. KeyCorp lifted their target price on CyberArk Software from $274.00 to $305.00 and gave the company an overweight rating in a research note on Friday, February 9th. JMP Securities lifted their target price on CyberArk Software from $195.00 to $280.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. BTIG Research assumed coverage on CyberArk Software in a research note on Thursday, March 28th. They issued a buy rating and a $317.00 target price on the stock. Oppenheimer lifted their target price on CyberArk Software from $195.00 to $260.00 and gave the company an outperform rating in a research note on Monday, January 8th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $300.00 target price on shares of CyberArk Software in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $265.63.

CyberArk Software Stock Down 2.7 %

CYBR opened at $227.32 on Friday. CyberArk Software has a 52 week low of $125.15 and a 52 week high of $283.00. The business’s 50 day moving average is $254.41 and its two-hundred day moving average is $226.67.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.53. The company had revenue of $223.10 million for the quarter, compared to analyst estimates of $209.65 million. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. Sell-side analysts forecast that CyberArk Software will post -1.46 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors have recently made changes to their positions in CYBR. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in 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 valued at $2,098,000 after purchasing an additional 769 shares during the last quarter. Raymond James & Associates boosted its position in CyberArk Software by 37.9% during the third quarter. Raymond James & Associates now owns 52,506 shares of the technology company’s stock worth $8,599,000 after acquiring an additional 14,418 shares during the last quarter. JB Capital LLC purchased a new stake in CyberArk Software in the 3rd quarter worth approximately $887,000. Solstein Capital LLC raised its holdings in CyberArk Software by 6.2% in the 3rd quarter. Solstein Capital LLC now owns 24,106 shares of the technology company’s stock valued at $3,948,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of CyberArk Software by 4.8% during the 3rd quarter. Mackenzie Financial Corp now owns 2,862 shares of the technology company’s stock worth $449,000 after purchasing an additional 131 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.