CyberArk Software (NASDAQ:CYBR) Coverage Initiated by Analysts at BTIG Research

BTIG Research began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $317.00 target price on the technology company’s stock.

CYBR has been the topic of a number of other research reports. Rosenblatt Securities increased their target price on CyberArk Software from $265.00 to $300.00 and gave the company a buy rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on CyberArk Software from $207.00 to $248.00 and gave the stock an overweight rating in a report on Monday, December 11th. Morgan Stanley cut CyberArk Software from an overweight rating to an equal weight rating and raised their price objective for the stock from $195.00 to $240.00 in a report on Tuesday, January 9th. UBS Group raised their price objective on CyberArk Software from $215.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Company raised their price objective on CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a report on Monday, January 29th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $258.54.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $265.63 on Thursday. The business’s fifty day moving average price is $254.58 and its two-hundred day moving average price is $211.16. The stock has a market cap of $11.23 billion, a PE ratio of -163.97 and a beta of 1.05. CyberArk Software has a one year low of $120.11 and a one year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. As a group, equities research analysts predict that CyberArk Software will post -1.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. purchased a new stake in shares of CyberArk Software during the fourth quarter worth about $33,000. FinTrust Capital Advisors LLC purchased a new stake in shares of CyberArk Software during the fourth quarter worth about $34,000. Assetmark Inc. increased its position in shares of CyberArk Software by 62.1% during the third quarter. Assetmark Inc. now owns 248 shares of the technology company’s stock worth $41,000 after acquiring an additional 95 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of CyberArk Software during the second quarter worth about $47,000. Finally, Desjardins Global Asset Management Inc. grew its stake in CyberArk Software by 22.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock worth $62,000 after purchasing an additional 51 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Israel, Europe, the Middle East, Africa, the United Kingdom, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.