CyberArk Software’s (CYBR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a report issued on Wednesday morning,Benzinga reports. They currently have a $480.00 target price on the technology company’s stock.

CYBR has been the topic of several other reports. Barclays lifted their price objective on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Scotiabank lifted their price objective on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. DA Davidson reiterated a “buy” rating and set a $475.00 price objective on shares of CyberArk Software in a research note on Tuesday. Finally, Robert W. Baird lifted their price objective on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twenty-six have assigned 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 target price of $416.67.

CyberArk Software Stock Performance

CyberArk Software stock opened at $363.85 on Wednesday. The company has a 50 day moving average price of $361.40 and a 200-day moving average price of $316.77. CyberArk Software has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The company has a market capitalization of $15.85 billion, a PE ratio of -186.59 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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, analysts forecast that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CYBR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CyberArk Software during the fourth quarter worth about $25,000. TD Private Client Wealth LLC boosted its holdings in CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after purchasing an additional 34 shares during the last quarter. Plato Investment Management Ltd acquired a new position in CyberArk Software in the 4th quarter valued at about $39,000. Graney & King LLC acquired a new position in CyberArk Software in the 4th quarter valued at about $43,000. Finally, Montag A & Associates Inc. boosted its holdings in CyberArk Software by 47.2% in the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds 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.