CyberArk Software’s (CYBR) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $360.00 price objective on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $335.00 target price on shares of CyberArk Software in a research report on Thursday, November 14th. BTIG Research lifted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Susquehanna upped their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.22.

CyberArk Software Stock Up 2.3 %

Shares of CYBR opened at $355.51 on Tuesday. CyberArk Software has a 52-week low of $221.12 and a 52-week high of $357.56. The company has a market cap of $15.49 billion, a PE ratio of 1,316.75 and a beta of 1.13. The business has a fifty day moving average of $322.94 and a 200 day moving average of $292.18.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. As a group, research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently modified their holdings of the business. Choreo LLC acquired a new position in shares of CyberArk Software during the 2nd quarter worth approximately $302,000. DekaBank Deutsche Girozentrale increased its position in CyberArk Software by 10.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,444 shares of the technology company’s stock worth $657,000 after purchasing an additional 229 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of CyberArk Software by 31.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,333 shares of the technology company’s stock valued at $3,646,000 after buying an additional 3,208 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CyberArk Software by 506.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after acquiring an additional 5,483 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in CyberArk Software by 0.5% during the second quarter. Primecap Management Co. CA now owns 61,850 shares of the technology company’s stock worth $16,911,000 after acquiring an additional 300 shares during the last quarter. 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.