CyberArk Software’s (CYBR) Overweight Rating Reiterated at Cantor Fitzgerald

CyberArk Software (NASDAQ:CYBR)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They presently have a $300.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 26.48% from the company’s previous close.

Several other equities analysts also recently commented on the company. Needham & Company LLC increased their price target on CyberArk Software from $245.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 9th. KeyCorp boosted their price objective on CyberArk Software from $274.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Truist Financial lifted their price target on CyberArk Software from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup boosted their target price on shares of CyberArk Software from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, JMP Securities upped their price objective on shares of CyberArk Software from $195.00 to $280.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.54.

CyberArk Software Price Performance

Shares of CYBR stock traded down $2.78 on Wednesday, hitting $237.19. The company’s stock had a trading volume of 265,785 shares, compared to its average volume of 587,927. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -146.59 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 firm’s fifty day moving average price is $259.93 and its 200-day moving average price is $219.92.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, beating 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%. Analysts predict that CyberArk Software will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC increased its holdings in shares of CyberArk Software by 513.7% in the second quarter. Whale Rock Capital Management LLC now owns 836,516 shares of the technology company’s stock valued at $130,773,000 after purchasing an additional 700,210 shares in the last quarter. Jennison Associates LLC boosted its position in CyberArk Software by 81.4% in the 4th quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after buying an additional 472,961 shares during the last quarter. Norges Bank acquired a new stake in shares of CyberArk Software in the 4th quarter valued at $100,797,000. Global Assets Advisory LLC bought a new stake in shares of CyberArk Software during the first quarter worth $67,736,000. Finally, Contour Asset Management LLC acquired a new position in shares of CyberArk Software during the fourth quarter valued at $48,605,000. 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.