CyberArk Software (NASDAQ:CYBR) Coverage Initiated at Morgan Stanley

Morgan Stanley began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Tuesday morning. The firm issued an equal weight rating on the technology company’s stock.

A number of other analysts have also recently commented on the company. Stifel Nicolaus boosted their price objective on CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Citigroup boosted their price target on CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $415.00 price objective on shares of CyberArk Software in a research report on Monday, January 27th. JMP Securities increased their price objective on CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Finally, StockNews.com cut CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. 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 MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $418.15.

CyberArk Software Stock Performance

Shares of CYBR opened at $344.87 on Tuesday. The business’s 50-day moving average is $363.88 and its two-hundred day moving average is $322.32. The company has a market capitalization of $17.05 billion, a P/E ratio of -176.86 and a beta of 1.06. CyberArk Software has a fifty-two week low of $223.41 and a fifty-two week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in shares of CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after acquiring an additional 2,062 shares during the period. Groupama Asset Managment increased 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 valued at $304,000 after purchasing an additional 5,402 shares in the last quarter. Jennison Associates LLC raised its holdings in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in CyberArk Software during the third quarter worth $8,612,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in CyberArk Software in the fourth quarter valued at $764,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.