CyberArk Software (NASDAQ:CYBR) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $420.00 target price on the technology company’s stock.

A number of other brokerages have also issued reports on CYBR. DA Davidson reissued a “buy” rating and issued a $475.00 price target on shares of CyberArk Software in a research note on Tuesday, February 25th. Stifel Nicolaus increased their target price on shares of CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley started coverage on shares of CyberArk Software in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Oppenheimer upped their price target on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Guggenheim reiterated a “buy” rating and set a $455.00 price objective on shares of CyberArk Software in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $418.39.

CyberArk Software Stock Performance

Shares of CYBR opened at $349.44 on Friday. CyberArk Software has a 1 year low of $223.41 and a 1 year high of $421.00. The firm has a fifty day moving average of $356.48 and a 200-day moving average of $330.68. The company has a market cap of $17.27 billion, a price-to-earnings ratio of -179.20 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. Analysts predict that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

A number of hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC boosted its position in CyberArk Software by 79.1% during the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after purchasing an additional 34 shares during the last quarter. CenterBook Partners LP raised its stake in shares of CyberArk Software by 2.4% during the 4th quarter. CenterBook Partners LP now owns 1,603 shares of the technology company’s stock worth $534,000 after purchasing an additional 38 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of CyberArk Software by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares during the last quarter. Montag A & Associates Inc. grew its stake in shares of CyberArk Software by 47.2% in the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after buying an additional 42 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in CyberArk Software by 135.3% in the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock worth $27,000 after buying an additional 46 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

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.