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

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $475.00 price objective on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 31.71% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Guggenheim restated a “buy” rating and set a $455.00 price objective on shares of CyberArk Software in a research note on Tuesday. Royal Bank of Canada lifted their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Truist Financial increased their price target on CyberArk Software from $385.00 to $450.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho raised their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus upped their price objective on CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $414.07.

CyberArk Software Stock Performance

CyberArk Software stock traded down $14.09 during midday trading on Tuesday, reaching $360.64. The stock had a trading volume of 215,906 shares, compared to its average volume of 574,433. The stock’s 50-day simple moving average is $357.54 and its 200 day simple moving average is $314.85. CyberArk Software has a twelve month low of $223.41 and a twelve month high of $421.00. The stock has a market capitalization of $15.71 billion, a PE ratio of -184.94 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate 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%. Equities analysts predict that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares during the period. Thoma Bravo L.P. bought a new position in shares of CyberArk Software in the fourth quarter valued at approximately $380,637,000. Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after acquiring an additional 5,402 shares during the period. First Trust Advisors LP raised its holdings in CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after purchasing an additional 20,832 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock worth $292,651,000 after purchasing an additional 68,359 shares during the period. 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.