Royal Bank of Canada Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Royal Bank of Canada began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Friday, MarketBeat reports. The firm issued an outperform rating and a $328.00 price objective on the technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Guggenheim reaffirmed a buy rating and set a $300.00 price objective on shares of CyberArk Software in a research note on Tuesday, June 25th. Robert W. Baird boosted their target price on CyberArk Software from $295.00 to $315.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Canaccord Genuity Group cut their price target on shares of CyberArk Software from $300.00 to $280.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. JMP Securities restated a market outperform rating and set a $310.00 price objective on shares of CyberArk Software in a report on Monday, June 17th. Finally, DA Davidson upped their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the company a buy rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $292.32.

CyberArk Software Trading Up 3.5 %

CyberArk Software stock opened at $280.62 on Friday. The company has a market cap of $11.86 billion, a PE ratio of -438.47 and a beta of 1.11. CyberArk Software has a 1 year low of $152.03 and a 1 year high of $293.31. The company’s 50-day moving average is $268.97 and its two-hundred day moving average is $257.77.

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

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Mather Group LLC. bought a new position in shares of CyberArk Software in the 2nd quarter valued at about $27,000. Montag A & Associates Inc. bought a new stake in shares of CyberArk Software during the 1st quarter worth approximately $27,000. ORG Partners LLC acquired a new stake in shares of CyberArk Software in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. bought a new position in shares of CyberArk Software in the second quarter valued at $39,000. Finally, FinTrust Capital Advisors LLC acquired a new position in CyberArk Software during the fourth quarter worth $34,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.