DA Davidson Reiterates “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $475.00 price objective on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 30.43% from the company’s previous close.

A number of other equities analysts have also commented on CYBR. Mizuho raised their price target on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Oppenheimer raised their price target on CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Stifel Nicolaus raised their price target on CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Scotiabank raised their price target on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley raised their price target on CyberArk Software from $316.00 to $390.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and an average price target of $416.67.

CyberArk Software Trading Down 1.6 %

Shares of NASDAQ CYBR opened at $364.18 on Tuesday. The stock has a fifty day simple moving average of $358.58 and a two-hundred day simple moving average of $315.53. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of -186.76 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. Analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after buying an additional 391,900 shares during the period. Thoma Bravo L.P. purchased a new position in shares of CyberArk Software in the fourth quarter worth about $380,637,000. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares during the period. First Trust Advisors LP increased its holdings in shares of CyberArk Software by 2.3% in the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after buying an additional 20,832 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock worth $292,651,000 after buying an additional 68,359 shares during the period. Hedge funds and other 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.