CyberArk Software (NASDAQ:CYBR) Receives “Buy” Rating from Needham & Company LLC

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $480.00 target price on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 37.79% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $415.00 price target on shares of CyberArk Software in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Robert W. Baird increased their price target on CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler increased their price objective on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $418.15.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $348.35 on Thursday. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of -178.64 and a beta of 1.06. The stock’s 50-day moving average is $363.96 and its 200-day moving average is $322.50. CyberArk Software has a one year low of $223.41 and a one year high of $421.00.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, equities analysts expect that CyberArk Software will post -0.47 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of CyberArk Software during the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC grew its position in CyberArk Software by 79.1% during the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares in the last quarter. Plato Investment Management Ltd bought a new position in CyberArk Software during the 4th quarter worth $39,000. Graney & King LLC acquired a new position in CyberArk Software in the 4th quarter valued at $43,000. Finally, Montag A & Associates Inc. lifted its position in shares of CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after acquiring an additional 42 shares during the period. 91.84% of the stock is owned by institutional investors.

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.