Royal Bank of Canada Reaffirms Outperform Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $420.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 20.19% from the stock’s current price.

A number of other equities research analysts have also commented on CYBR. StockNews.com lowered CyberArk Software from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays lifted their price target on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. JMP Securities raised their price objective on shares of CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $455.00 target price on shares of CyberArk Software in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $418.39.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $349.44 on Friday. The firm’s 50 day simple moving average is $356.48 and its 200 day simple moving average is $330.68. CyberArk Software has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of -179.20 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly 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 positive return on equity of 0.45% and a negative net margin of 9.34%. Equities research analysts expect that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of CyberArk Software in the third quarter valued at $8,612,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of CyberArk Software during the 4th quarter worth about $764,000. China Universal Asset Management Co. Ltd. acquired a new position in CyberArk Software in the 4th quarter valued at about $1,166,000. Spire Wealth Management raised its holdings in CyberArk Software by 236.8% in the 4th quarter. Spire Wealth Management now owns 4,756 shares of the technology company’s stock valued at $1,584,000 after acquiring an additional 3,344 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in CyberArk Software by 9.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 11,576 shares of the technology company’s stock worth $3,857,000 after acquiring an additional 1,024 shares during the last quarter. 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.