Cantor Fitzgerald Reaffirms “Overweight” Rating for CyberArk Software (NASDAQ:CYBR)

Cantor Fitzgerald reissued their overweight rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Monday,Benzinga reports. The brokerage currently has a $415.00 price objective on the technology company’s stock. Cantor Fitzgerald also issued estimates for CyberArk Software’s FY2024 earnings at ($0.55) EPS and FY2025 earnings at ($0.28) EPS.

Several other equities analysts have also issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $316.00 price target on shares of CyberArk Software in a report on Tuesday, December 31st. UBS Group lifted their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. KeyCorp increased their target price on CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of CyberArk Software from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Finally, Stifel Nicolaus raised their price objective on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $363.56.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $368.52 on Monday. The stock’s fifty day moving average price is $332.21 and its two-hundred day moving average price is $297.43. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 1,364.94 and a beta of 1.13. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $376.61.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the prior year, the business posted ($0.31) earnings per share. CyberArk Software’s revenue was up 25.6% compared to the same quarter last year. On average, equities analysts predict that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

A number of hedge funds have recently made changes to their positions in CYBR. Coldstream Capital Management Inc. increased its holdings in shares of CyberArk Software by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after acquiring an additional 42 shares during the last quarter. Greenleaf Trust boosted its position in CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after purchasing an additional 45 shares during the period. Signaturefd LLC increased its holdings in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the last quarter. Austin Private Wealth LLC raised its position in shares of CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares during the period. Finally, Juncture Wealth Strategies LLC lifted its stake in shares of CyberArk Software by 2.1% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after buying an additional 57 shares during the last quarter. 91.84% of the stock is 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.