CyberArk Software (NASDAQ:CYBR) Earns “Buy” Rating from Bank of America

Bank of America reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $315.00 target price on the technology company’s stock.

A number of other analysts have also issued reports on CYBR. Mizuho boosted their price target on CyberArk Software from $250.00 to $310.00 and gave the company a buy rating in a report on Friday, February 9th. Rosenblatt Securities boosted their price target on CyberArk Software from $265.00 to $300.00 and gave the company a buy rating in a report on Friday, February 9th. Needham & Company LLC boosted their price target on CyberArk Software from $245.00 to $310.00 and gave the company a buy rating in a report on Friday, February 9th. UBS Group boosted their price target on CyberArk Software from $215.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 10th. Finally, Susquehanna boosted their price target on CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, CyberArk Software presently has a consensus rating of Moderate Buy and an average target price of $258.54.

CyberArk Software Stock Performance

CYBR opened at $242.60 on Wednesday. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of -149.75 and a beta of 1.05. The stock’s 50 day moving average price is $256.03 and its 200-day moving average price is $223.40. CyberArk Software has a one year low of $120.11 and a one year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations 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, analysts predict that CyberArk Software will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new position in shares of CyberArk Software during the first quarter worth $202,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of CyberArk Software during the first quarter worth $34,000. Rational Advisors LLC acquired a new position in shares of CyberArk Software in the 1st quarter valued at $1,966,000. Arcadia Investment Management Corp MI acquired a new position in shares of CyberArk Software in the 1st quarter valued at $34,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of CyberArk Software by 68.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,648 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 2,303 shares during the period. 91.84% of the stock is 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.