CyberArk Software (NASDAQ:CYBR) Given Buy Rating at Guggenheim

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reiterated by Guggenheim in a note issued to investors on Tuesday,Benzinga reports. They presently have a $455.00 price objective on the technology company’s stock. Guggenheim’s target price indicates a potential upside of 26.16% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company raised their price objective on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Royal Bank of Canada upped their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Rosenblatt Securities boosted their price target on CyberArk Software from $415.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup upped their target price on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Barclays raised their target price on CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $410.93.

CyberArk Software Stock Performance

CyberArk Software stock traded down $14.07 during trading on Tuesday, hitting $360.66. The company’s stock had a trading volume of 111,710 shares, compared to its average volume of 571,371. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of -185.40 and a beta of 1.15. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The stock’s fifty day moving average is $357.54 and its 200 day moving average is $314.85.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently modified their holdings of CYBR. Assenagon Asset Management S.A. lifted its stake in shares of CyberArk Software by 40.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,363 shares of the technology company’s stock valued at $689,000 after acquiring an additional 681 shares during the period. First Trust Direct Indexing L.P. bought a new position in CyberArk Software in the third quarter valued at approximately $383,000. Pinnacle Associates Ltd. grew its holdings in CyberArk Software by 6.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,550 shares of the technology company’s stock worth $452,000 after acquiring an additional 100 shares during the period. Diversify Wealth Management LLC raised its position in shares of CyberArk Software by 11.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,230 shares of the technology company’s stock valued at $644,000 after acquiring an additional 236 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its position in shares of CyberArk Software by 7.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,404 shares of the technology company’s stock worth $409,000 after purchasing an additional 92 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.