Needham & Company LLC Reaffirms Buy Rating for CyberArk Software (NASDAQ:CYBR)

Needham & Company LLC restated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $480.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler raised their price objective on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. KeyCorp raised their price target on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. DA Davidson reaffirmed a “buy” rating and set a $475.00 price objective on shares of CyberArk Software in a research report on Tuesday, February 25th. Stifel Nicolaus lifted their target price on CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Robert W. Baird boosted their price target on CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $418.15.

CyberArk Software Price Performance

CyberArk Software stock opened at $346.76 on Thursday. CyberArk Software has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The firm has a fifty day moving average price of $364.00 and a two-hundred day moving average price of $322.67. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of -177.83 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, sell-side analysts expect that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Trading of CyberArk Software

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in CyberArk Software during the 4th quarter worth $25,000. TD Private Client Wealth LLC increased its stake in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares during the period. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software during the fourth quarter worth $39,000. Graney & King LLC bought a new stake in shares of CyberArk Software during the fourth quarter worth $43,000. Finally, Montag A & Associates Inc. lifted its stake in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after acquiring an additional 42 shares during the period. 91.84% of the stock is owned by institutional investors.

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.