Cowen began coverage on shares of Cyberark Software (NASDAQ:CYBR) in a research note released on Wednesday morning, The Fly reports. The brokerage issued an outperform rating and a $145.00 price objective on the technology company’s stock.
A number of other brokerages also recently issued reports on CYBR. Zacks Investment Research raised Cyberark Software from a hold rating to a buy rating and set a $124.00 price target on the stock in a research report on Tuesday, August 13th. ValuEngine downgraded Cyberark Software from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. BidaskClub downgraded Cyberark Software from a hold rating to a sell rating in a research report on Tuesday, August 20th. Mizuho set a $145.00 price target on Cyberark Software and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their price target on Cyberark Software from $146.00 to $149.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $124.52.
Shares of CYBR stock opened at $115.84 on Wednesday. The business’s fifty day simple moving average is $130.05 and its 200-day simple moving average is $121.56. The company has a market cap of $4.45 billion, a PE ratio of 68.91, a PEG ratio of 5.80 and a beta of 1.58. Cyberark Software has a 12-month low of $64.66 and a 12-month high of $148.74.
Cyberark Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.34. The business had revenue of $100.18 million for the quarter, compared to the consensus estimate of $97.35 million. Cyberark Software had a return on equity of 13.47% and a net margin of 15.23%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, sell-side analysts forecast that Cyberark Software will post 1.29 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CYBR. Morgan Stanley grew its holdings in shares of Cyberark Software by 486.5% during the second quarter. Morgan Stanley now owns 2,050,413 shares of the technology company’s stock valued at $262,126,000 after buying an additional 1,700,819 shares during the last quarter. Swedbank purchased a new stake in shares of Cyberark Software during the first quarter valued at $120,062,000. Invesco Ltd. grew its holdings in shares of Cyberark Software by 684.4% during the second quarter. Invesco Ltd. now owns 1,099,810 shares of the technology company’s stock valued at $140,599,000 after buying an additional 959,601 shares during the last quarter. BlackRock Inc. boosted its holdings in Cyberark Software by 87.6% in the second quarter. BlackRock Inc. now owns 1,295,355 shares of the technology company’s stock valued at $165,599,000 after purchasing an additional 604,804 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Cyberark Software by 428.4% in the second quarter. JPMorgan Chase & Co. now owns 658,045 shares of the technology company’s stock valued at $83,597,000 after purchasing an additional 533,513 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
About Cyberark Software
CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.
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