CyberArk Software’s (CYBR) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $518.00 price objective on the technology company’s stock.

Several other research analysts have also recently issued reports on CYBR. Barclays reiterated an “equal weight” rating and issued a $520.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. William Blair cut shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Canaccord Genuity Group downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their price target for the company from $440.00 to $502.00 in a report on Wednesday, October 15th. Oppenheimer reiterated a “market perform” rating on shares of CyberArk Software in a research note on Friday, August 1st. Finally, Wedbush reissued a “neutral” rating and set a $450.00 price objective on shares of CyberArk Software in a report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $451.69.

CyberArk Software Trading Up 0.3%

NASDAQ CYBR opened at $503.87 on Friday. The stock has a market capitalization of $25.43 billion, a P/E ratio of -149.52 and a beta of 1.01. CyberArk Software has a 52-week low of $288.00 and a 52-week high of $526.19. The firm has a 50-day moving average price of $490.51 and a 200 day moving average price of $426.11. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. The company had revenue of $342.84 million for the quarter, compared to analyst estimates of $328.52 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. Equities research analysts expect that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of CyberArk Software by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 212,122 shares of the technology company’s stock worth $71,697,000 after purchasing an additional 6,125 shares during the last quarter. Envestnet Asset Management Inc. increased its position in CyberArk Software by 15.1% during the first quarter. Envestnet Asset Management Inc. now owns 167,149 shares of the technology company’s stock worth $56,496,000 after buying an additional 21,896 shares in the last quarter. Robeco Schweiz AG acquired a new position in shares of CyberArk Software in the first quarter worth $6,760,000. Diversify Wealth Management LLC raised its holdings in shares of CyberArk Software by 17.5% in the first quarter. Diversify Wealth Management LLC now owns 3,782 shares of the technology company’s stock worth $1,334,000 after acquiring an additional 564 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of CyberArk Software in the first quarter valued at $200,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.