CyberArk Software (NASDAQ:CYBR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CyberArk Software (NASDAQ:CYBR) from a hold rating to a buy rating in a research report report published on Monday.

A number of other research analysts also recently issued reports on CYBR. JMP Securities boosted their price target on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. KeyCorp raised their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna raised their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Truist Financial reiterated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $331.46.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $324.00 on Monday. The company has a market capitalization of $14.12 billion, a P/E ratio of 1,200.04 and a beta of 1.13. CyberArk Software has a fifty-two week low of $198.01 and a fifty-two week high of $333.32. The stock has a 50 day moving average price of $301.33 and a two-hundred day moving average price of $277.62.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) EPS. As a group, equities analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently added to or reduced their stakes in CYBR. Coldstream Capital Management Inc. lifted its stake in CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after purchasing an additional 42 shares during the last quarter. Greenleaf Trust raised its holdings in shares of CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after buying an additional 45 shares during the period. Signaturefd LLC lifted its stake in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after acquiring an additional 49 shares during the last quarter. Austin Private Wealth LLC boosted its holdings in CyberArk Software by 6.8% during the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after acquiring an additional 52 shares during the period. Finally, Arcadia Investment Management Corp MI grew its position in CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.