CyberArk Software (NASDAQ:CYBR) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Tuesday morning,Benzinga reports. They currently have a $445.00 target price on the technology company’s stock.

A number of other analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $480.00 price objective on shares of CyberArk Software in a research report on Thursday, March 20th. Barclays reissued an “overweight” rating on shares of CyberArk Software in a research report on Tuesday. Oppenheimer boosted their price objective on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Stephens assumed coverage on shares of CyberArk Software in a report on Tuesday, April 1st. They set an “overweight” rating and a $440.00 target price on the stock. Finally, Scotiabank boosted their target price on shares of CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus price target of $415.89.

CyberArk Software Stock Performance

Shares of CYBR opened at $361.29 on Tuesday. CyberArk Software has a twelve month low of $223.41 and a twelve month high of $421.00. The firm’s 50 day moving average price is $341.44 and its two-hundred day moving average price is $339.45. The firm has a market cap of $17.86 billion, a P/E ratio of -185.28 and a beta of 0.99.

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 negative net margin of 9.34% and a positive return on equity of 0.45%. On average, sell-side analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares in the last quarter. Thoma Bravo L.P. acquired a new position in shares of CyberArk Software in the fourth quarter valued at about $380,637,000. Invesco Ltd. grew its stake in shares of CyberArk Software by 12.2% in the first quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company’s stock valued at $381,904,000 after acquiring an additional 122,423 shares in the last quarter. First Trust Advisors LP grew its stake in shares of CyberArk Software by 2.3% in the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock valued at $313,084,000 after acquiring an additional 20,832 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after acquiring an additional 68,359 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.