CyberArk Software (NASDAQ:CYBR) Stock Rating Reaffirmed by Bank of America

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by equities researchers at Bank of America in a report released on Wednesday, Benzinga reports. They presently have a $315.00 price target on the technology company’s stock. Bank of America‘s target price indicates a potential upside of 27.26% from the company’s previous close.

Several other brokerages also recently weighed in on CYBR. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Morgan Stanley lowered shares of CyberArk Software from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $195.00 to $240.00 in a research report on Tuesday, January 9th. JMP Securities increased their price target on shares of CyberArk Software from $195.00 to $280.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. UBS Group increased their target price on shares of CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Citigroup upped their price target on CyberArk Software from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.54.

CyberArk Software Stock Up 3.1 %

CYBR traded up $7.41 on Wednesday, reaching $247.52. The company’s stock had a trading volume of 365,200 shares, compared to its average volume of 575,916. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of -152.59 and a beta of 1.05. CyberArk Software has a fifty-two week low of $120.11 and a fifty-two week high of $283.00. The stock has a 50 day moving average of $257.15 and a two-hundred day moving average of $222.57.

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

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Arcadia Investment Management Corp MI acquired a new position in CyberArk Software in the 1st quarter valued at $34,000. FinTrust Capital Advisors LLC acquired a new stake in CyberArk Software in the 4th quarter valued at approximately $34,000. Assetmark Inc. increased its position in CyberArk Software by 62.1% in the 3rd quarter. Assetmark Inc. now owns 248 shares of the technology company’s stock worth $41,000 after buying an additional 95 shares during the period. Central Bank & Trust Co. acquired a new position in shares of CyberArk Software during the first quarter worth approximately $53,000. Finally, Desjardins Global Asset Management Inc. boosted its position in shares of CyberArk Software by 22.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $62,000 after acquiring an additional 51 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.