Needham & Company LLC Reaffirms “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $480.00 target price on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 36.34% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. UBS Group lifted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. DA Davidson reiterated a “buy” rating and set a $475.00 target price on shares of CyberArk Software in a report on Tuesday. Morgan Stanley increased their target price on CyberArk Software from $316.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Citigroup lifted their price target on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Truist Financial increased their price objective on CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $416.67.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $352.05 on Wednesday. The firm has a market capitalization of $15.34 billion, a PE ratio of -180.54 and a beta of 1.15. The firm has a fifty day moving average of $359.76 and a 200 day moving average of $315.87. CyberArk Software has a 52-week low of $223.41 and a 52-week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, sell-side analysts forecast that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently bought and sold shares of CYBR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in CyberArk Software in the fourth quarter worth approximately $25,000. TD Private Client Wealth LLC increased its position in CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares in the last quarter. Assetmark Inc. increased its holdings in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares in the last quarter. Plato Investment Management Ltd bought a new position in CyberArk Software in the 4th quarter worth $39,000. Finally, Graney & King LLC bought a new position in CyberArk Software in the 4th quarter worth approximately $43,000. 91.84% of the stock is currently owned by institutional investors.

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.