Rosenblatt Securities Reiterates “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a note issued to investors on Wednesday, Benzinga reports. They presently have a $310.00 price target on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 29.57% from the company’s previous close.

A number of other analysts also recently issued reports on CYBR. Susquehanna lifted their price objective on CyberArk Software from $255.00 to $310.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Oppenheimer lifted their price objective on CyberArk Software from $195.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Wednesday, April 17th. Morgan Stanley cut CyberArk Software from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $195.00 to $240.00 in a report on Tuesday, January 9th. Finally, Truist Financial lifted their target price on CyberArk Software from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average target price of $258.96.

CyberArk Software Trading Down 1.8 %

Shares of CYBR opened at $239.25 on Wednesday. The business’s 50 day moving average is $255.48 and its 200 day moving average is $225.31. The company has a market capitalization of $10.11 billion, a PE ratio of -147.68 and a beta of 1.05. CyberArk Software has a 12-month low of $120.11 and a 12-month high of $283.00.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.53. The company had revenue of $223.10 million for 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%. Equities research analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CYBR. Jennison Associates LLC raised its position in shares of CyberArk Software by 81.4% in the 4th 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 in the last quarter. Norges Bank bought a new position in shares of CyberArk Software in the 4th quarter worth $100,797,000. Global Assets Advisory LLC bought a new position in shares of CyberArk Software in the 1st quarter worth $67,736,000. Contour Asset Management LLC acquired a new position in CyberArk Software during the 4th quarter valued at about $48,605,000. Finally, Acadian Asset Management LLC increased its position in CyberArk Software by 226.3% during the 3rd quarter. Acadian Asset Management LLC now owns 295,893 shares of the technology company’s stock valued at $48,434,000 after buying an additional 205,224 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.