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

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $480.00 price objective on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 36.46% from the company’s previous close.

CYBR has been the topic of a number of other reports. DA Davidson reiterated a “buy” rating and set a $475.00 target price on shares of CyberArk Software in a research note on Tuesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $415.00 price objective on shares of CyberArk Software in a research report on Monday, January 27th. Royal Bank of Canada boosted their target price on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. KeyCorp raised their price target on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Scotiabank upped their price objective on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $418.15.

CyberArk Software Stock Performance

CyberArk Software stock opened at $351.76 on Thursday. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of -180.39 and a beta of 1.06. CyberArk Software has a 52-week low of $223.41 and a 52-week high of $421.00. The firm has a 50 day moving average price of $364.16 and a two-hundred day moving average price of $323.12.

CyberArk Software (NASDAQ:CYBR) last released 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%. As a group, equities research analysts predict that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its stake in shares of CyberArk Software by 16.6% during the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after purchasing an additional 2,062 shares during the last quarter. Groupama Asset Managment lifted its position in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of CyberArk Software in the 3rd quarter valued at about $8,612,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of CyberArk Software in the 4th quarter valued at about $764,000. Finally, Swiss National Bank grew its position in shares of CyberArk Software by 2.5% in the 3rd quarter. Swiss National Bank now owns 128,700 shares of the technology company’s stock worth $37,530,000 after buying an additional 3,100 shares during 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.