Rosenblatt Securities Reaffirms Buy Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $445.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 20.21% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler boosted their target price on shares of CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Mizuho upped their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price target on CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, DA Davidson reissued a “buy” rating and issued a $475.00 price objective on shares of CyberArk Software in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $416.67.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $370.18 on Wednesday. The firm’s fifty day moving average is $357.54 and its two-hundred day moving average is $314.85. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of -189.84 and a beta of 1.15. CyberArk Software has a one year low of $223.41 and a one year 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 analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Thoma Bravo L.P. purchased a new position in CyberArk Software during the fourth quarter worth about $380,637,000. Groupama Asset Managment boosted its holdings in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. First Trust Advisors LP grew its stake in shares of CyberArk Software by 2.3% in the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock valued at $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% during the 4th 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 last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.