BTIG Research Begins Coverage on CyberArk Software (NASDAQ:CYBR)

Stock analysts at BTIG Research began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $317.00 price target on the technology company’s stock. BTIG Research’s price target would indicate a potential upside of 20.45% from the company’s current price.

Several other research analysts also recently commented on CYBR. Susquehanna raised their target price on CyberArk Software from $255.00 to $310.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Needham & Company LLC raised their target price on CyberArk Software from $245.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their target price on CyberArk Software from $207.00 to $248.00 and gave the stock an “overweight” rating in a research note on Monday, December 11th. Bank of America raised their price target on CyberArk Software from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, KeyCorp raised their price target on CyberArk Software from $274.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.54.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $263.18 on Thursday. CyberArk Software has a 1 year low of $120.11 and a 1 year high of $283.00. The firm has a market cap of $11.12 billion, a PE ratio of -162.46 and a beta of 1.05. The stock has a fifty day moving average price of $253.85 and a 200-day moving average price of $210.78.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.53. The company had revenue of $223.10 million during the quarter, compared to the consensus estimate of $209.65 million. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. As a group, equities analysts anticipate that CyberArk Software will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in CYBR. Raymond James & Associates boosted its holdings in CyberArk Software by 15.6% in the first quarter. Raymond James & Associates now owns 12,520 shares of the technology company’s stock worth $2,113,000 after acquiring an additional 1,691 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of CyberArk Software by 86.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,837 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 3,634 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CyberArk Software by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the technology company’s stock worth $498,000 after purchasing an additional 678 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of CyberArk Software in the first quarter worth $293,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of CyberArk Software by 16.8% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,390 shares of the technology company’s stock worth $235,000 after purchasing an additional 200 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Israel, Europe, the Middle East, Africa, the United Kingdom, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.