Morgan Stanley Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Equities research analysts at Morgan Stanley assumed coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report issued on Tuesday. The brokerage set an “equal weight” rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on CYBR. JPMorgan Chase & Co. raised their price target on shares of CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $480.00 price target on shares of CyberArk Software in a research report on Wednesday, February 26th. Mizuho raised their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price target on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group lifted their target price on shares of CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $418.15.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $348.35 on Tuesday. CyberArk Software has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The company has a 50 day simple moving average of $363.96 and a two-hundred day simple moving average of $322.50. The company has a market capitalization of $17.22 billion, a price-to-earnings ratio of -178.64 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, analysts forecast that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. TD Private Client Wealth LLC grew its holdings in CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after acquiring an additional 34 shares in the last quarter. CenterBook Partners LP boosted its holdings in shares of CyberArk Software by 2.4% in the 4th quarter. CenterBook Partners LP now owns 1,603 shares of the technology company’s stock valued at $534,000 after buying an additional 38 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Montag A & Associates Inc. boosted its stake in CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after purchasing an additional 42 shares during the period. Finally, Continuum Advisory LLC boosted its stake in CyberArk Software by 0.6% during the 4th quarter. Continuum Advisory LLC now owns 7,871 shares of the technology company’s stock worth $2,622,000 after purchasing an additional 48 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.