CyberArk Software (NASDAQ:CYBR) Research Coverage Started at Scotiabank

Research analysts at Scotiabank initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set a “sector outperform” rating and a $340.00 price target on the technology company’s stock. Scotiabank’s price objective would suggest a potential upside of 13.34% from the company’s current price.

A number of other research firms also recently issued reports on CYBR. Jefferies Financial Group increased their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Citigroup increased their price objective on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada started coverage on CyberArk Software in a research note on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research note on Tuesday, August 6th. Finally, Robert W. Baird boosted their price target on CyberArk Software from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $301.19.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $299.98 on Monday. The firm has a 50 day simple moving average of $280.22 and a 200 day simple moving average of $261.08. CyberArk Software has a 52 week low of $154.76 and a 52 week high of $308.63. The company has a market cap of $12.68 billion, a PE ratio of -468.72 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $224.71 million during the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.58) earnings per share. On average, equities analysts predict that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of CyberArk Software in the first quarter worth $109,466,000. 1832 Asset Management L.P. boosted its holdings in CyberArk Software by 1,291.7% in the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the period. Anomaly Capital Management LP acquired a new stake in CyberArk Software in the 2nd quarter worth $49,145,000. Clearbridge Investments LLC grew its position in CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of CyberArk Software by 38.2% during the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after purchasing an additional 112,112 shares during the period. 91.84% of the stock is 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.