CyberArk Software (NASDAQ:CYBR) Now Covered by Royal Bank of Canada

Investment analysts at Royal Bank of Canada assumed coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $328.00 price target on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.88% from the company’s current price.

A number of other equities research analysts have also recently commented on CYBR. Barclays lifted their target price on CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Susquehanna lifted their target price on CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. DA Davidson lifted their target price on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group lowered their target price on CyberArk Software from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average price target of $292.32.

CyberArk Software Trading Up 3.5 %

Shares of NASDAQ:CYBR opened at $280.62 on Friday. The stock’s fifty day simple moving average is $268.97 and its two-hundred day simple moving average is $257.78. CyberArk Software has a 1-year low of $152.03 and a 1-year high of $293.31. The stock has a market cap of $11.86 billion, a PE ratio of -438.47 and a beta of 1.11.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $224.71 million for the quarter, compared to analysts’ expectations of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.58) EPS. On average, sell-side analysts forecast that CyberArk Software will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

A number of hedge funds have recently bought and sold shares of CYBR. Vanguard Personalized Indexing Management LLC lifted its position in CyberArk Software by 16.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,876 shares of the technology company’s stock worth $411,000 after buying an additional 264 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in CyberArk Software by 63.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,766 shares of the technology company’s stock worth $1,701,000 after buying an additional 3,014 shares during the last quarter. Norges Bank bought a new stake in CyberArk Software in the 4th quarter worth approximately $100,797,000. PNC Financial Services Group Inc. lifted its position in CyberArk Software by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the technology company’s stock valued at $749,000 after purchasing an additional 648 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in CyberArk Software in the fourth quarter valued at approximately $217,000. 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.