CyberArk Software’s (CYBR) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a report issued on Friday, Benzinga reports. They currently have a $285.00 price target on the technology company’s stock.

CYBR has been the subject of several other research reports. Susquehanna raised their target price on CyberArk Software from $255.00 to $310.00 and gave the stock a positive rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their price objective on shares of CyberArk Software from $250.00 to $275.00 and gave the company an overweight rating in a research note on Monday, January 29th. Mizuho increased their target price on shares of CyberArk Software from $250.00 to $310.00 and gave the stock a buy rating in a research note on Friday, February 9th. JMP Securities increased their target price on shares of CyberArk Software from $195.00 to $280.00 and gave the stock a market outperform rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities reiterated a buy rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $265.63.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $227.32 on Friday. The stock has a fifty day simple moving average of $254.41 and a two-hundred day simple moving average of $226.67. CyberArk Software has a 1-year low of $125.15 and a 1-year high of $283.00.

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

Hedge Funds Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of CyberArk Software by 81.4% in the 4th quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock worth $230,871,000 after purchasing an additional 472,961 shares during the period. Polar Capital Holdings Plc lifted its position in shares of CyberArk Software by 15.4% in the 3rd quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock worth $97,412,000 after purchasing an additional 79,506 shares during the period. TimesSquare Capital Management LLC lifted its position in shares of CyberArk Software by 2.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock worth $90,724,000 after purchasing an additional 11,387 shares during the period. Norges Bank purchased a new stake in shares of CyberArk Software in the 4th quarter worth about $100,797,000. Finally, Nomura Holdings Inc. lifted its position in CyberArk Software by 9.5% during the 3rd quarter. Nomura Holdings Inc. now owns 364,875 shares of the technology company’s stock valued at $59,756,000 after acquiring an additional 31,660 shares during the period. 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.