CyberArk Software (NASDAQ:CYBR) Rating Reiterated by Guggenheim

Guggenheim reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $300.00 price target on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. BTIG Research began coverage on shares of CyberArk Software in a research note on Thursday, March 28th. They set a buy rating and a $317.00 target price on the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $300.00 price target on shares of CyberArk Software in a research report on Friday, June 21st. JMP Securities reiterated a market outperform rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Monday, June 17th. DA Davidson lifted their target price on CyberArk Software from $275.00 to $285.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $275.00.

CyberArk Software Price Performance

CYBR opened at $273.42 on Tuesday. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of -427.22 and a beta of 1.08. The company’s 50 day simple moving average is $243.93 and its two-hundred day simple moving average is $243.21. CyberArk Software has a 1-year low of $142.92 and a 1-year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.67. The firm had revenue of $221.55 million during the quarter, compared to analysts’ expectations of $213.42 million. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. On average, equities analysts anticipate that CyberArk Software will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC increased its holdings in CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after buying an additional 472,961 shares during the last quarter. Norges Bank purchased a new position in shares of CyberArk Software in the 4th quarter valued at about $100,797,000. Swedbank AB acquired a new stake in shares of CyberArk Software during the 1st quarter worth about $109,466,000. 1832 Asset Management L.P. lifted its stake in CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after purchasing an additional 358,602 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in CyberArk Software in the first quarter valued at approximately $67,736,000. 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.