Wedbush Begins Coverage on Cyberark Software (CYBR)

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Wedbush assumed coverage on shares of Cyberark Software (NASDAQ:CYBR) in a report issued on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $85.00 price objective on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Cyberark Software from a hold rating to a buy rating and set a $72.00 price target for the company in a research note on Tuesday, July 3rd. Oppenheimer lifted their price target on Cyberark Software from $65.00 to $75.00 and gave the stock an outperform rating in a research note on Wednesday, August 8th. Stifel Nicolaus reiterated a buy rating and issued a $70.00 price target on shares of Cyberark Software in a research note on Thursday, August 9th. BidaskClub upgraded Cyberark Software from a buy rating to a strong-buy rating in a research note on Tuesday, August 14th. Finally, Piper Jaffray Companies lifted their price target on Cyberark Software to $90.00 and gave the stock an overweight rating in a research note on Monday, September 17th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $73.88.

NASDAQ:CYBR traded up $0.45 during mid-day trading on Thursday, reaching $70.51. The stock had a trading volume of 16,221 shares, compared to its average volume of 575,260. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 96.47, a price-to-earnings-growth ratio of 4.71 and a beta of 2.06. Cyberark Software has a 1-year low of $40.63 and a 1-year high of $81.24.

Cyberark Software (NASDAQ:CYBR) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.12. The business had revenue of $77.71 million during the quarter, compared to the consensus estimate of $72.93 million. Cyberark Software had a return on equity of 7.67% and a net margin of 6.80%. As a group, analysts expect that Cyberark Software will post 0.76 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of CYBR. Acadian Asset Management LLC acquired a new position in Cyberark Software in the second quarter valued at approximately $38,809,000. OppenheimerFunds Inc. acquired a new position in shares of Cyberark Software during the second quarter worth approximately $38,220,000. Legal & General Group Plc boosted its position in shares of Cyberark Software by 3,149.8% during the first quarter. Legal & General Group Plc now owns 383,903 shares of the technology company’s stock worth $19,587,000 after buying an additional 372,090 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Cyberark Software during the second quarter worth approximately $16,254,000. Finally, Epoch Investment Partners Inc. boosted its position in shares of Cyberark Software by 13.7% during the second quarter. Epoch Investment Partners Inc. now owns 1,485,527 shares of the technology company’s stock worth $93,529,000 after buying an additional 178,712 shares during the period. Institutional investors own 76.90% of the company’s stock.

Cyberark Software Company Profile

CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.

Further Reading: How to interpret a stock’s beta number

Analyst Recommendations for Cyberark Software (NASDAQ:CYBR)

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