CyberArk Software (NASDAQ:CYBR) Now Covered by Analysts at Stephens

Equities research analysts at Stephens initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report issued to clients and investors on Tuesday. The brokerage set an “overweight” rating and a $440.00 price target on the technology company’s stock. Stephens’ price objective suggests a potential upside of 29.29% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley assumed coverage on shares of CyberArk Software in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Wells Fargo & Company boosted their price target on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Royal Bank of Canada boosted their target price on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Mizuho raised their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $418.04.

CyberArk Software Stock Performance

CYBR traded up $2.31 during midday trading on Tuesday, reaching $340.31. 86,632 shares of the company were exchanged, compared to its average volume of 503,414. The stock has a market capitalization of $16.82 billion, a P/E ratio of -173.63 and a beta of 1.06. CyberArk Software has a one year low of $223.41 and a one year high of $421.00. The stock’s 50-day simple moving average is $363.88 and its 200 day simple moving average is $327.12.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, research analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently added to or reduced their stakes in CYBR. HighTower Advisors LLC increased its holdings in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of CyberArk Software during the third quarter worth about $8,612,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of CyberArk Software during the fourth quarter worth about $764,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of CyberArk Software in the fourth quarter worth approximately $1,166,000. 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.