CyberArk Software Ltd. (CYBR) Earns “Buy” Rating from Needham & Company LLC

CyberArk Software Ltd. (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Tuesday. They currently have a $55.00 target price on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 29.59% from the company’s current price.

CYBR has been the topic of several other research reports. BidaskClub cut CyberArk Software from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. ValuEngine cut CyberArk Software from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Deutsche Bank AG cut CyberArk Software from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $45.00 in a research report on Friday, July 14th. Zacks Investment Research raised CyberArk Software from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Vetr raised CyberArk Software from a “buy” rating to a “strong-buy” rating and set a $60.34 target price on the stock in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.60.

CyberArk Software (CYBR) traded up 0.83% during midday trading on Tuesday, hitting $42.44. The stock had a trading volume of 335,841 shares. The stock has a market capitalization of $1.26 billion, a PE ratio of 54.48 and a beta of 2.58. CyberArk Software has a 1-year low of $39.34 and a 1-year high of $56.25. The stock’s 50-day moving average is $40.81 and its 200-day moving average is $47.62.

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Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of CyberArk Software during the 1st quarter valued at $102,000. BNP Paribas Arbitrage SA lifted its position in shares of CyberArk Software by 198.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,796 shares of the technology company’s stock valued at $190,000 after buying an additional 2,524 shares during the last quarter. Advisor Group Inc. lifted its position in shares of CyberArk Software by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 3,874 shares of the technology company’s stock valued at $193,000 after buying an additional 232 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of CyberArk Software during the 1st quarter valued at $201,000. Finally, FNY Partners Fund LP purchased a new position in shares of CyberArk Software during the 1st quarter valued at $223,000. 81.74% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.

Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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