CyberArk Software (NASDAQ:CYBR) Raised to Strong-Buy at Stephens

CyberArk Software (NASDAQ:CYBR - Get Free Report) was upgraded by investment analysts at Stephens to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price target on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Scotiabank boosted their price objective on CyberArk Software from $340.00 to $400.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. Royal Bank of Canada raised their target price on CyberArk Software from $385.00 to $410.00 and gave the company an "outperform" rating in a research report on Tuesday, January 21st. JMP Securities boosted their price target 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, Needham & Company LLC reissued a "buy" rating and issued a $480.00 price objective on shares of CyberArk Software in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $418.04.

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CyberArk Software Price Performance

CYBR stock traded down $21.50 during mid-day trading on Monday, reaching $306.46. 914,137 shares of the company's stock were exchanged, compared to its average volume of 513,495. CyberArk Software has a 12-month low of $223.41 and a 12-month high of $421.00. The stock's 50 day moving average is $361.79 and its 200 day moving average is $328.40. The company has a market cap of $15.15 billion, a price-to-earnings ratio of -157.16 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (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%. On average, research analysts forecast that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Thoma Bravo L.P. acquired a new stake in CyberArk Software in the 4th quarter valued at approximately $380,637,000. Norges Bank purchased a new position in shares of CyberArk Software during the fourth quarter worth $203,375,000. Nepsis Inc. boosted its position in shares of CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company's stock worth $187,339,000 after buying an additional 505,088 shares during the period. Jennison Associates LLC grew its stake in shares of CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company's stock valued at $534,287,000 after buying an additional 391,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 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 acquiring an additional 336,462 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other 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.