Scotiabank Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Scotiabank initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report issued on Monday, Marketbeat reports. The brokerage issued a sector outperform rating and a $340.00 price objective on the technology company’s stock.

Several other equities analysts also recently weighed in on CYBR. Guggenheim restated a “buy” rating and set a $300.00 price target on shares of CyberArk Software in a report on Tuesday, June 25th. Royal Bank of Canada initiated coverage on CyberArk Software in a research report on Friday, September 20th. They set an “outperform” rating and a $328.00 target price on the stock. Citigroup lifted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Susquehanna lifted their price objective on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Finally, KeyCorp boosted their price objective on shares of CyberArk Software from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and twenty-five 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 price target of $306.58.

CyberArk Software Stock Up 1.6 %

NASDAQ:CYBR opened at $293.46 on Monday. The firm has a market capitalization of $12.40 billion, a P/E ratio of -458.53 and a beta of 1.12. CyberArk Software has a 52 week low of $154.76 and a 52 week high of $308.63. The company has a fifty day moving average of $281.97 and a 200 day moving average of $262.09.

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

Institutional Trading of CyberArk Software

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in CyberArk Software by 64.7% in the first quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock valued at $1,951,000 after buying an additional 2,885 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CyberArk Software in the 1st quarter valued at approximately $2,741,000. Price T Rowe Associates Inc. MD raised its position in CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock valued at $14,946,000 after purchasing an additional 49,360 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new position in CyberArk Software during the second quarter worth about $711,000. 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.