Needham & Company LLC Reiterates “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

Needham & Company LLC reaffirmed their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $480.00 price objective on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their price target on CyberArk Software from $330.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. KeyCorp lifted their target price on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a research report on Monday, January 27th. Robert W. Baird boosted their price objective on shares of CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $416.67.

CyberArk Software Stock Performance

CYBR stock opened at $364.18 on Wednesday. The company has a market capitalization of $15.87 billion, a PE ratio of -186.76 and a beta of 1.15. CyberArk Software has a one year low of $223.41 and a one year high of $421.00. The company’s 50 day moving average price is $358.58 and its two-hundred day moving average price is $315.53.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, research analysts predict that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

A number of hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares during the last quarter. Groupama Asset Managment raised its position in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the last quarter. Jennison Associates LLC boosted its stake in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in CyberArk Software in the 3rd quarter worth about $8,612,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in CyberArk Software during the 4th quarter valued at about $764,000. 91.84% of the stock is owned by institutional investors.

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.