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

Guggenheim reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report report published on Tuesday, Benzinga reports. Guggenheim currently has a $300.00 target price on the technology company’s stock.

Several other equities analysts also recently commented on CYBR. BTIG Research began coverage on shares of CyberArk Software in a research note on Thursday, March 28th. They issued a buy rating and a $317.00 price target for the company. Bank of America restated a buy rating and issued a $315.00 price target on shares of CyberArk Software in a research note on Wednesday, April 24th. JMP Securities restated a market outperform rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Monday, June 17th. Needham & Company LLC restated a buy rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Monday, May 20th. Finally, Wedbush reaffirmed an outperform rating and set a $285.00 price objective on shares of CyberArk Software in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $275.00.

CyberArk Software Stock Performance

CyberArk Software stock opened at $270.40 on Tuesday. CyberArk Software has a fifty-two week low of $142.92 and a fifty-two week high of $283.00. The firm has a 50 day moving average price of $243.14 and a 200 day moving average price of $242.70. The company has a market capitalization of $11.43 billion, a PE ratio of -422.50 and a beta of 1.08.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.67. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The firm had revenue of $221.55 million during the quarter, compared to the consensus estimate of $213.42 million. As a group, equities research analysts forecast that CyberArk Software will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock worth $230,871,000 after acquiring an additional 472,961 shares during the period. Polar Capital Holdings Plc increased its stake in shares of CyberArk Software by 15.4% during the third quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock worth $97,412,000 after acquiring an additional 79,506 shares during the period. Norges Bank acquired a new position in shares of CyberArk Software during the fourth quarter worth about $100,797,000. Whale Rock Capital Management LLC increased its stake in shares of CyberArk Software by 21.6% during the first quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after acquiring an additional 81,801 shares during the period. Finally, Swedbank AB acquired a new position in shares of CyberArk Software during the first quarter worth about $109,466,000. 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.