CyberArk Software’s (CYBR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Friday,Benzinga reports. The brokerage currently has a $420.00 price target on the technology company’s stock.

CYBR has been the topic of several other research reports. Truist Financial lowered their target price on CyberArk Software from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group upped their price objective on shares of CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays increased their target price on shares of CyberArk Software from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. DA Davidson restated a “buy” rating and set a $475.00 price target on shares of CyberArk Software in a report on Tuesday, February 25th. Finally, Wells Fargo & Company increased their price objective on CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $418.39.

CyberArk Software Stock Up 2.1 %

CYBR opened at $349.44 on Friday. The business has a fifty day simple moving average of $356.48 and a 200-day simple moving average of $330.98. The firm has a market cap of $17.27 billion, a PE ratio of -179.20 and a beta of 1.00. 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 released its quarterly 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%. On average, equities research analysts anticipate that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CYBR. Jennison Associates LLC lifted its holdings 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 worth $534,287,000 after acquiring an additional 391,900 shares during the period. Thoma Bravo L.P. bought a new position in shares of CyberArk Software in the 4th quarter worth $380,637,000. First Trust Advisors LP grew its stake in shares of CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after purchasing an additional 20,832 shares during the period. Pictet Asset Management Holding SA increased its holdings in CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after purchasing an additional 68,359 shares during the last quarter. Finally, Norges Bank acquired a new position in CyberArk Software in the fourth quarter valued at about $203,375,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Company Profile

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.