CyberArk Software (NASDAQ:CYBR) Rating Reiterated by Needham & Company LLC

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They currently have a $310.00 target price on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 36.37% from the company’s previous close.

CYBR has been the topic of a number of other reports. Oppenheimer increased their price target on CyberArk Software from $195.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. Mizuho increased their price target on CyberArk Software from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Truist Financial increased 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. BTIG Research started coverage on CyberArk Software in a research report on Thursday, March 28th. They set a “buy” rating and a $317.00 price target on the stock. Finally, KeyCorp increased their price target on CyberArk Software from $274.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued 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 $265.63.

CyberArk Software Stock Down 2.7 %

Shares of NASDAQ CYBR opened at $227.32 on Friday. The stock’s 50 day moving average price is $254.41 and its two-hundred day moving average price is $226.27. CyberArk Software has a 52-week low of $125.15 and a 52-week high of $283.00. The stock has a market capitalization of $9.61 billion, a P/E ratio of -355.19 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 2.59% and a negative net margin of 3.20%. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $209.65 million. On average, analysts anticipate that CyberArk Software will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Dallas Securities Inc. grew its holdings in shares of CyberArk Software by 3.2% in the 1st quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock worth $425,000 after acquiring an additional 50 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its stake in CyberArk Software by 22.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $62,000 after buying an additional 51 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of CyberArk Software by 6.6% in the fourth quarter. Signaturefd LLC now owns 868 shares of the technology company’s stock worth $190,000 after buying an additional 54 shares during the period. HighTower Advisors LLC increased its position in shares of CyberArk Software by 1.1% in the third quarter. HighTower Advisors LLC now owns 5,476 shares of the technology company’s stock worth $894,000 after acquiring an additional 60 shares in the last quarter. Finally, Wealth Alliance increased its position in shares of CyberArk Software by 2.6% in the fourth quarter. Wealth Alliance now owns 2,399 shares of the technology company’s stock worth $526,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

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.