CyberArk Software (NASDAQ:CYBR) Receives Buy Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a report published on Thursday,Benzinga reports. They currently have a $350.00 price objective on the technology company’s stock, up from their previous price objective of $300.00.

A number of other equities analysts have also commented on CYBR. DA Davidson boosted their price objective on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research note on Tuesday, August 6th. Robert W. Baird upped their price target on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler upped their price target on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their price target on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock opened at $305.27 on Thursday. The firm has a market cap of $13.30 billion, a P/E ratio of 1,130.63 and a beta of 1.13. The business’s fifty day moving average is $285.06 and its two-hundred day moving average is $267.28. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. On average, equities research analysts predict that CyberArk Software will post -0.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CYBR. Swedbank AB bought a new position in CyberArk Software in the first quarter valued at approximately $109,466,000. 1832 Asset Management L.P. grew its stake in CyberArk Software by 1,291.7% in the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares in the last quarter. International Assets Investment Management LLC bought a new position in CyberArk Software in the third quarter valued at approximately $82,485,000. Anomaly Capital Management LP bought a new position in CyberArk Software in the second quarter valued at approximately $49,145,000. Finally, Clearbridge Investments LLC grew its stake in CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after purchasing an additional 160,269 shares in 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.