CyberArk Software (NASDAQ:CYBR) Earns Outperform Rating from Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $328.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 20.93% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Rosenblatt Securities restated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Canaccord Genuity Group reduced their target price on shares of CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Robert W. Baird upped their target price on shares of CyberArk Software from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Wedbush lifted their price target on CyberArk Software from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.32.

CyberArk Software Trading Up 1.2 %

Shares of CYBR opened at $271.23 on Friday. CyberArk Software has a 52 week low of $152.03 and a 52 week high of $293.31. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of -423.80 and a beta of 1.11. The stock has a 50 day moving average of $268.75 and a 200-day moving average of $257.64.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same quarter in the previous year, the company posted ($0.58) earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts predict that CyberArk Software will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new stake in CyberArk Software in the first quarter worth approximately $27,000. Mather Group LLC. bought a new position in CyberArk Software during the second quarter valued at about $27,000. ORG Partners LLC acquired a new stake in shares of CyberArk Software in the second quarter worth about $33,000. FinTrust Capital Advisors LLC bought a new stake in shares of CyberArk Software during the 4th quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of CyberArk Software during the 2nd quarter worth about $39,000. Institutional investors and hedge funds 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.