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

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $480.00 target price on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 37.79% from the stock’s current price.

CYBR has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a research report on Monday, January 27th. JMP Securities lifted their target price on shares of CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Citigroup lifted their price target on shares of CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, StockNews.com cut shares of CyberArk Software from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $418.15.

CyberArk Software Trading Up 1.0 %

CYBR stock opened at $348.35 on Thursday. The firm has a 50-day moving average price of $363.96 and a 200-day moving average price of $322.50. CyberArk Software has a 12 month low of $223.41 and a 12 month high of $421.00. The stock has a market capitalization of $17.22 billion, a P/E ratio of -178.64 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that CyberArk Software will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in CyberArk Software during the fourth quarter worth $25,000. TD Private Client Wealth LLC raised its holdings in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after acquiring an additional 34 shares during the last quarter. Plato Investment Management Ltd bought a new position in CyberArk Software in the 4th quarter valued at about $39,000. Graney & King LLC acquired a new position in CyberArk Software during the 4th quarter valued at about $43,000. Finally, Montag A & Associates Inc. increased its holdings in CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after purchasing an additional 42 shares in the last quarter. 91.84% of the stock is currently owned by 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.