CyberArk Software’s (CYBR) Market Outperform Rating Reiterated at JMP Securities

CyberArk Software (NASDAQ:CYBR)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a report released on Tuesday,Benzinga reports. They currently have a $360.00 price target on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 3.63% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Barclays boosted their target price on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research report on Thursday, November 14th. Stifel Nicolaus lifted their target price on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Morgan Stanley restated an “equal weight” rating and set a $316.00 price target on shares of CyberArk Software in a research note on Tuesday, December 31st. Finally, BTIG Research lifted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

CyberArk Software Price Performance

Shares of CYBR opened at $347.38 on Tuesday. The business’s 50-day moving average is $321.76 and its 200-day moving average is $291.74. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 1,286.64 and a beta of 1.13. CyberArk Software has a fifty-two week low of $221.12 and a fifty-two week high of $349.28.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same quarter in the prior year, the business earned ($0.31) EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

A number of hedge funds have recently bought and sold shares of CYBR. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software during the second quarter valued at about $711,000. HighTower Advisors LLC raised its holdings in CyberArk Software by 16.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares in the last quarter. Sycomore Asset Management raised its holdings in CyberArk Software by 36.6% in the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after acquiring an additional 16,294 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. 91.84% of the stock is owned by 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.