Wedbush Reaffirms “Outperform” Rating for CyberArk Software (NASDAQ:CYBR)

Wedbush reiterated their outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report report published on Friday morning, Benzinga reports. Wedbush currently has a $285.00 price target on the technology company’s stock.

Several other research firms have also recently weighed in on CYBR. Susquehanna boosted their price objective on CyberArk Software from $255.00 to $310.00 and gave the stock a positive rating in a research report on Friday, February 9th. Needham & Company LLC reaffirmed a buy rating and issued a $310.00 price target on shares of CyberArk Software in a report on Friday. UBS Group upped their price target on CyberArk Software from $215.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 10th. Rosenblatt Securities reaffirmed a buy rating and issued a $310.00 price target on shares of CyberArk Software in a report on Wednesday, May 1st. Finally, Truist Financial upped their price target on CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $265.63.

CyberArk Software Stock Down 2.7 %

Shares of NASDAQ:CYBR opened at $227.32 on Friday. CyberArk Software has a fifty-two week low of $125.15 and a fifty-two week high of $283.00. The business has a 50-day moving average of $254.41 and a two-hundred day moving average of $226.67.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. On average, equities analysts predict that CyberArk Software will post -1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of CYBR. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of CyberArk Software by 6.4% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,810 shares of the technology company’s stock valued at $2,098,000 after acquiring an additional 769 shares in the last quarter. Raymond James & Associates lifted its stake in CyberArk Software by 37.9% in the 3rd quarter. Raymond James & Associates now owns 52,506 shares of the technology company’s stock valued at $8,599,000 after purchasing an additional 14,418 shares during the last quarter. JB Capital LLC acquired a new stake in CyberArk Software in the 3rd quarter valued at about $887,000. Solstein Capital LLC lifted its stake in CyberArk Software by 6.2% in the 3rd quarter. Solstein Capital LLC now owns 24,106 shares of the technology company’s stock valued at $3,948,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in CyberArk Software by 4.8% in the 3rd quarter. Mackenzie Financial Corp now owns 2,862 shares of the technology company’s stock valued at $449,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.