CyberArk Software (NASDAQ:CYBR) Given Buy Rating at Needham & Company LLC

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $480.00 target price on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 29.67% from the company’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada boosted their target price on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup boosted their price objective on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Robert W. Baird raised their target price on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on shares of CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $416.67.

CyberArk Software Price Performance

CYBR stock opened at $370.18 on Wednesday. CyberArk Software has a 12 month low of $223.41 and a 12 month high of $421.00. The company has a market cap of $16.13 billion, a price-to-earnings ratio of -189.84 and a beta of 1.15. The company has a fifty day moving average price of $357.54 and a 200 day moving average price of $314.85.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS 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, analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Thoma Bravo L.P. acquired a new position in shares of CyberArk Software in the fourth quarter worth $380,637,000. Norges Bank purchased a new stake in CyberArk Software during the 4th quarter worth about $203,375,000. Nepsis Inc. raised its stake in CyberArk Software by 882.4% in the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after purchasing an additional 505,088 shares during the last quarter. Jennison Associates LLC lifted its holdings in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after purchasing an additional 391,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CyberArk Software by 195.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after purchasing an additional 336,462 shares during the last quarter. 91.84% of the stock is currently 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.