CyberArk Software (NASDAQ:CYBR) Rating Reiterated by Bank of America

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

CYBR has been the topic of several other reports. Susquehanna upped their target price on shares of 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 upped their target price on shares of CyberArk Software from $245.00 to $310.00 and gave the stock a buy rating in a research report on Friday, February 9th. Wells Fargo & Company upped their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a research report on Monday, January 29th. KeyCorp upped their target price on shares of CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Finally, JMP Securities upped their price target on shares of CyberArk Software from $195.00 to $280.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $258.54.

CyberArk Software Stock Down 1.0 %

Shares of CyberArk Software stock opened at $242.60 on Wednesday. CyberArk Software has a 52-week low of $120.11 and a 52-week high of $283.00. The company’s 50-day simple moving average is $256.03 and its 200-day simple moving average is $223.40. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of -149.75 and a beta of 1.05.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. CyberArk Software had a negative net margin of 8.84% and a negative return on equity of 8.23%. The business had revenue of $223.10 million for the quarter, compared to analyst estimates of $209.65 million. Equities research analysts anticipate that CyberArk Software will post -1.46 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently modified their holdings of CYBR. National Bank of Canada FI lifted its stake in shares of CyberArk Software by 34.1% during the third quarter. National Bank of Canada FI now owns 613 shares of the technology company’s stock valued at $100,000 after buying an additional 156 shares during the period. Bfsg LLC increased its position in CyberArk Software by 27.3% during the third quarter. Bfsg LLC now owns 8,583 shares of the technology company’s stock worth $1,406,000 after purchasing an additional 1,839 shares during the last quarter. AMI Asset Management Corp increased its position in CyberArk Software by 1.9% during the third quarter. AMI Asset Management Corp now owns 30,451 shares of the technology company’s stock worth $4,987,000 after purchasing an additional 580 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in CyberArk Software by 6.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,810 shares of the technology company’s stock worth $2,098,000 after purchasing an additional 769 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its position in CyberArk Software by 2.5% during the third quarter. Sheets Smith Wealth Management now owns 2,778 shares of the technology company’s stock worth $455,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other 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.