CyberArk Software (NASDAQ:CYBR) Given “Equal Weight” Rating at Morgan Stanley

CyberArk Software (NASDAQ:CYBR)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a research note issued on Tuesday,Benzinga reports. They currently have a $316.00 target price on the technology company’s stock. Morgan Stanley’s price target points to a potential downside of 3.71% from the company’s current price.

A number of other research firms have also recently weighed in on CYBR. JMP Securities lifted their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a report on Thursday, November 14th. Wedbush upped their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer raised their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler raised their price objective on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $339.22.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR traded up $8.56 during midday trading on Tuesday, hitting $328.16. 214,701 shares of the stock traded hands, compared to its average volume of 510,257. CyberArk Software has a one year low of $205.59 and a one year high of $333.32. The firm has a market capitalization of $14.30 billion, a P/E ratio of 1,215.45 and a beta of 1.13. The firm has a 50-day moving average of $308.53 and a two-hundred day moving average of $285.13.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.31) earnings per share. Equities analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc acquired a new position in CyberArk Software during the 2nd quarter valued at approximately $711,000. HighTower Advisors LLC increased its position in shares of CyberArk Software by 16.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares during the period. Sycomore Asset Management increased its position in shares of CyberArk Software by 36.6% in the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after acquiring an additional 16,294 shares during the period. Groupama Asset Managment raised its stake 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 worth $304,000 after acquiring an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. 91.84% of the stock is 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.