Royal Bank of Canada Begins Coverage on CyberArk Software (NASDAQ:CYBR)

Royal Bank of Canada initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $328.00 price objective on the technology company’s stock.

Several other research firms have also recently weighed in on CYBR. Rosenblatt Securities reissued a buy rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Cantor Fitzgerald restated an overweight rating and issued a $300.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Guggenheim reaffirmed a buy rating and set a $300.00 price objective on shares of CyberArk Software in a research report on Tuesday, June 25th. Canaccord Genuity Group reduced their target price on shares of CyberArk Software from $300.00 to $280.00 and set a buy rating for the company in a research note on Tuesday, June 4th. Finally, Citigroup boosted their price target on CyberArk Software from $305.00 to $310.00 and gave the company a buy rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $292.32.

CyberArk Software Price Performance

Shares of CYBR opened at $280.62 on Friday. The company has a market capitalization of $11.86 billion, a PE ratio of -438.47 and a beta of 1.11. CyberArk Software has a one year low of $152.03 and a one year high of $293.31. The company’s fifty day moving average price is $268.97 and its 200 day moving average price is $257.77.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The business had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. During the same period in the previous year, the company posted ($0.58) earnings per share. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts anticipate that CyberArk Software will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently bought and sold shares of CYBR. Montag A & Associates Inc. acquired a new stake in shares of CyberArk Software in the first quarter valued at $27,000. Mather Group LLC. acquired a new stake in CyberArk Software in the 2nd quarter valued at about $27,000. ORG Partners LLC bought a new position in shares of CyberArk Software in the second quarter worth about $33,000. FinTrust Capital Advisors LLC bought a new position in shares of CyberArk Software in the fourth quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of CyberArk Software during the second quarter worth approximately $39,000. Institutional investors own 91.84% of the company’s stock.

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.