CyberArk Software (NASDAQ:CYBR) Receives Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $350.00 price target on the technology company’s stock, up from their prior price target of $300.00.

CYBR has been the subject of several other reports. Citigroup lifted their price target on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Piper Sandler lifted their price target on CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday. JMP Securities lifted their price target on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday. KeyCorp lifted their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Scotiabank assumed coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Trading Up 1.3 %

Shares of NASDAQ CYBR opened at $305.27 on Thursday. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16. The stock has a 50 day moving average of $285.06 and a 200-day moving average of $267.28. The company has a market capitalization of $13.30 billion, a P/E ratio of 1,130.63 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. Analysts predict that CyberArk Software will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares during the last quarter. Groupama Asset Managment grew its position in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. RGM Capital LLC grew its position in shares of CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC grew its position in shares of CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the last quarter. Finally, Swedbank AB grew its position in shares of CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after buying an additional 45,799 shares during the last quarter. Institutional investors 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.