CyberArk Software (NASDAQ:CYBR) Earns Buy Rating from Needham & Company LLC

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $480.00 target price on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 36.34% from the company’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a research report on Monday, January 27th. KeyCorp increased their target price on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Rosenblatt Securities reiterated a “buy” rating and set a $445.00 price target on shares of CyberArk Software in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.67.

CyberArk Software Stock Down 3.3 %

CyberArk Software stock opened at $352.05 on Wednesday. The business has a fifty day moving average of $359.76 and a two-hundred day moving average of $315.87. CyberArk Software has a twelve month low of $223.41 and a twelve month high of $421.00. The firm has a market cap of $15.34 billion, a P/E ratio of -180.54 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) 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 analysts expect that CyberArk Software will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of CyberArk Software by 40.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,363 shares of the technology company’s stock worth $689,000 after acquiring an additional 681 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in shares of CyberArk Software in the third quarter valued at about $383,000. Pinnacle Associates Ltd. increased its position in CyberArk Software by 6.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,550 shares of the technology company’s stock worth $452,000 after purchasing an additional 100 shares during the last quarter. Diversify Wealth Management LLC raised its stake in CyberArk Software by 11.8% during the third quarter. Diversify Wealth Management LLC now owns 2,230 shares of the technology company’s stock worth $644,000 after purchasing an additional 236 shares during the period. Finally, Financial Advocates Investment Management raised its stake in CyberArk Software by 7.0% during the third quarter. Financial Advocates Investment Management now owns 1,404 shares of the technology company’s stock worth $409,000 after purchasing an additional 92 shares during the period. Hedge funds and other 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.