CyberArk Software Ltd. (NASDAQ:CYBR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) have received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $290.83.

A number of equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Monday, June 17th. Guggenheim reiterated a “buy” rating and issued a $300.00 price target on shares of CyberArk Software in a research report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday. Susquehanna increased their target price on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday. Finally, Barclays boosted their price target on shares of CyberArk Software from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, July 11th.

CyberArk Software Trading Up 3.8 %

Shares of NASDAQ CYBR opened at $273.72 on Monday. CyberArk Software has a 1 year low of $148.01 and a 1 year high of $284.10. The firm’s 50-day moving average is $258.55 and its 200-day moving average is $252.74. The firm has a market capitalization of $11.57 billion, a PE ratio of -427.69 and a beta of 1.14.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The firm had revenue of $224.71 million for the quarter, compared to analysts’ expectations of $219.06 million. During the same period last year, the firm earned ($0.58) earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities research analysts anticipate that CyberArk Software will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock worth $230,871,000 after buying an additional 472,961 shares during the last quarter. Norges Bank bought a new stake in shares of CyberArk Software in the 4th quarter valued at about $100,797,000. Swedbank AB bought a new stake in shares of CyberArk Software in the 1st quarter valued at about $109,466,000. 1832 Asset Management L.P. lifted its stake in CyberArk Software by 1,291.7% in the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new position in CyberArk Software during the first quarter worth about $67,736,000. 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.