CyberArk Software (NASDAQ:CYBR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a $310.00 target price on the technology company’s stock.

Several other equities research analysts also recently issued reports on the stock. BTIG Research assumed coverage on shares of CyberArk Software in a research report on Thursday, March 28th. They set a buy rating and a $317.00 price objective for the company. Morgan Stanley downgraded shares of CyberArk Software from an overweight rating to an equal weight rating and raised their target price for the company from $195.00 to $240.00 in a research report on Tuesday, January 9th. Mizuho raised their target price on shares of CyberArk Software from $250.00 to $310.00 and gave the company a buy rating in a research report on Friday, February 9th. Truist Financial raised their target price on shares of CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a research report on Friday, February 9th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $300.00 target price on shares of CyberArk Software in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $265.63.

CyberArk Software Stock Performance

NASDAQ:CYBR traded down $6.22 during trading hours on Friday, hitting $227.32. The stock had a trading volume of 768,897 shares, compared to its average volume of 461,485. CyberArk Software has a one year low of $125.15 and a one year high of $283.00. The company has a market cap of $9.61 billion, a price-to-earnings ratio of -355.19 and a beta of 1.06. The business’s 50 day moving average is $254.41 and its 200-day moving average is $225.88.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.53. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.59%. The firm had revenue of $223.10 million during the quarter, compared to the consensus estimate of $209.65 million. On average, sell-side analysts anticipate that CyberArk Software will post -1.46 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC acquired a new stake in CyberArk Software in the 1st quarter worth about $34,000. Arcadia Investment Management Corp MI bought a new position in CyberArk Software in the 1st quarter valued at about $34,000. FinTrust Capital Advisors LLC bought a new position in CyberArk Software in the 4th quarter valued at about $34,000. Central Bank & Trust Co. acquired a new position in shares of CyberArk Software in the 1st quarter valued at approximately $53,000. Finally, Assetmark Inc. lifted its holdings in shares of CyberArk Software by 62.1% during the 3rd quarter. Assetmark Inc. now owns 248 shares of the technology company’s stock worth $41,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds 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.