CyberArk Software’s (CYBR) “Buy” Rating Reaffirmed at Bank of America

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by Bank of America in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $315.00 price target on the technology company’s stock. Bank of America‘s price objective indicates a potential upside of 28.53% from the stock’s current price.

Several other equities analysts also recently commented on the stock. JMP Securities increased their target price on shares of CyberArk Software from $195.00 to $280.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. BTIG Research started coverage on shares of CyberArk Software in a research report on Thursday, March 28th. They set a “buy” rating and a $317.00 target price on the stock. KeyCorp raised their price target on CyberArk Software from $274.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. UBS Group raised their price target on CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company raised their price target on CyberArk Software from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.54.

CyberArk Software Trading Up 0.2 %

Shares of NASDAQ:CYBR opened at $245.07 on Wednesday. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of -151.28 and a beta of 1.05. CyberArk Software has a 1 year low of $120.11 and a 1 year high of $283.00. The business has a fifty day simple moving average of $256.39 and a 200 day simple moving average of $222.88.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.53. The firm had revenue of $223.10 million for the quarter, compared to the consensus estimate of $209.65 million. CyberArk Software had a negative net margin of 8.84% and a negative return on equity of 8.23%. On average, sell-side analysts forecast that CyberArk Software will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Jennison Associates LLC lifted its stake 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 purchasing an additional 472,961 shares during the period. Norges Bank bought a new position in CyberArk Software during the fourth quarter worth about $100,797,000. Global Assets Advisory LLC bought a new position in shares of CyberArk Software in the first quarter valued at approximately $67,736,000. Contour Asset Management LLC bought a new position in shares of CyberArk Software in the fourth quarter valued at approximately $48,605,000. Finally, Acadian Asset Management LLC raised its stake in shares of CyberArk Software by 226.3% in the third quarter. Acadian Asset Management LLC now owns 295,893 shares of the technology company’s stock valued at $48,434,000 after acquiring an additional 205,224 shares during the last quarter. 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.