CyberArk Software's (CYBR) "Outperform" Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of CyberArk Software (NASDAQ:CYBR - Free Report) in a report issued on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $420.00 target price on the technology company's stock.

Other research analysts also recently issued research reports about the company. Oppenheimer increased their price target on CyberArk Software from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their target price on CyberArk Software from $425.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Citigroup upped their price target on CyberArk Software from $410.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Guggenheim reissued a "buy" rating and set a $455.00 price objective on shares of CyberArk Software in a research note on Tuesday, February 25th. Finally, JMP Securities upped their target price on shares of CyberArk Software from $390.00 to $480.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $414.64.

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CyberArk Software Price Performance

Shares of CYBR stock traded down $9.02 during trading hours on Friday, hitting $334.33. 1,048,976 shares of the company's stock were exchanged, compared to its average volume of 531,301. CyberArk Software has a 52 week low of $223.41 and a 52 week high of $421.00. The stock's 50-day moving average is $355.74 and its 200-day moving average is $331.41. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of -171.45 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) 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%. Equities 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

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of CyberArk Software during the 3rd quarter worth approximately $8,612,000. CHURCHILL MANAGEMENT Corp bought a new position in CyberArk Software during the fourth quarter worth about $764,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of CyberArk Software in the fourth quarter valued at approximately $1,166,000. Spire Wealth Management lifted its position in shares of CyberArk Software by 236.8% during the 4th quarter. Spire Wealth Management now owns 4,756 shares of the technology company's stock valued at $1,584,000 after acquiring an additional 3,344 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in CyberArk Software by 9.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 11,576 shares of the technology company's stock worth $3,857,000 after buying an additional 1,024 shares in 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.