Needham & Company LLC Reaffirms Buy Rating for CyberArk Software (NASDAQ:CYBR)

Needham & Company LLC restated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $480.00 target price on the technology company’s stock.

Several other equities analysts have also commented on CYBR. Robert W. Baird upped their price objective on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $415.00 target price on shares of CyberArk Software in a report on Monday, January 27th. Susquehanna increased their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. JMP Securities increased their price objective on shares of CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Barclays increased their target price on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $416.67.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $363.85 on Wednesday. The firm’s 50 day moving average price is $361.40 and its 200-day moving average price is $316.77. CyberArk Software has a one year low of $223.41 and a one year high of $421.00. The firm has a market cap of $15.85 billion, a P/E ratio of -186.59 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data 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, research analysts predict that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in shares of CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares during the period. Thoma Bravo L.P. acquired a new stake in shares of CyberArk Software in the 4th quarter worth $380,637,000. Groupama Asset Managment lifted its stake in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the period. First Trust Advisors LP lifted 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 worth $313,084,000 after acquiring an additional 20,832 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in shares of CyberArk Software by 8.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock worth $292,651,000 after acquiring an additional 68,359 shares during the period. Institutional investors and hedge funds 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.