CyberArk Software’s (CYBR) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

CyberArk Software (NASDAQ:CYBR)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Monday,Benzinga reports. They currently have a $415.00 target price on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 15.37% from the stock’s current price.

Several other brokerages also recently weighed in on CYBR. Barclays raised their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Scotiabank boosted their price target on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada upped their target price on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Wedbush increased their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup raised their price objective on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $361.70.

CyberArk Software Stock Performance

CYBR opened at $359.72 on Monday. The company has a fifty day moving average of $329.93 and a 200 day moving average of $296.06. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $366.48. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 1,332.35 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the prior year, the company posted ($0.31) EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities research analysts forecast that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after acquiring an additional 2,062 shares during the last quarter. Sycomore Asset Management raised its position in shares of CyberArk Software by 36.6% in the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after acquiring an additional 16,294 shares in the last quarter. Groupama Asset Managment increased its position in 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 in the last quarter. Jennison Associates LLC raised its holdings in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after buying an additional 9,570 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in CyberArk Software during the third quarter worth $8,612,000. 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.