CyberArk Software (NASDAQ:CYBR) Now Covered by Analysts at Scotiabank

Scotiabank started coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Monday morning, MarketBeat Ratings reports. The brokerage issued a sector outperform rating and a $340.00 price target on the technology company’s stock.

CYBR has been the topic of several other reports. BTIG Research boosted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Mizuho upped their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Finally, Jefferies Financial Group upped their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus target price of $306.58.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $293.46 on Monday. The firm has a market cap of $12.40 billion, a P/E ratio of -458.53 and a beta of 1.12. The firm has a 50 day simple moving average of $281.97 and a 200 day simple moving average of $262.09. CyberArk Software has a fifty-two week low of $154.76 and a fifty-two week high of $308.63.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $219.06 million. During the same period last year, the firm earned ($0.58) earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts expect that CyberArk Software will post -1.06 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently bought and sold shares of CYBR. PNC Financial Services Group Inc. grew its holdings in CyberArk Software by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the technology company’s stock worth $749,000 after purchasing an additional 648 shares during the period. Austin Private Wealth LLC purchased a new position in shares of CyberArk Software during the 1st quarter valued at $215,000. Future Financial Wealth Managment LLC purchased a new position in CyberArk Software in the 1st quarter valued at approximately $80,000. Wealth Enhancement Advisory Services LLC purchased a new stake in CyberArk Software during the 1st quarter worth about $526,000. Finally, KRS Capital Management LLC grew its stake in CyberArk Software by 9.4% during the first quarter. KRS Capital Management LLC now owns 2,800 shares of the technology company’s stock valued at $744,000 after acquiring an additional 240 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.