CyberArk Software (NASDAQ:CYBR) Receives “Buy” Rating from Bank of America

Bank of America reaffirmed their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Wednesday, Benzinga reports. They currently have a $315.00 price target on the technology company’s stock.

A number of other equities research analysts have also weighed in on CYBR. UBS Group raised their price objective on CyberArk Software from $215.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Truist Financial lifted their price target on CyberArk Software from $250.00 to $300.00 and gave the stock a buy rating in a research note on Friday, February 9th. JMP Securities upped their price objective on CyberArk Software from $195.00 to $280.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. Citigroup raised their price objective on CyberArk Software from $215.00 to $265.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Finally, BTIG Research assumed coverage on shares of CyberArk Software in a report on Thursday, March 28th. They set a buy rating and a $317.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and a consensus target price of $258.54.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $244.53 on Wednesday. The business’s 50-day simple moving average is $256.77 and its 200 day simple moving average is $222.72. The company has a market cap of $10.33 billion, a P/E ratio of -150.94 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 posted its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. The business had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative net margin of 8.84% and a negative return on equity of 8.23%. Analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in shares of CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after purchasing an additional 472,961 shares during the last quarter. Norges Bank acquired a new position in CyberArk Software in the 4th quarter worth approximately $100,797,000. Global Assets Advisory LLC acquired a new stake in shares of CyberArk Software in the first quarter worth $67,736,000. Contour Asset Management LLC purchased a new stake in CyberArk Software in the 4th quarter worth about $48,605,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of CyberArk Software by 226.3% during the third quarter. Acadian Asset Management LLC now owns 295,893 shares of the technology company’s stock worth $48,434,000 after purchasing an additional 205,224 shares during the period. 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.