CyberArk Software (NASDAQ:CYBR) Coverage Initiated at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada initiated coverage on shares of CyberArk Software (NASDAQ:CYBR - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an "outperform" rating and a $328.00 price target on the technology company's stock. Royal Bank of Canada's price target would suggest a potential upside of 16.88% from the stock's previous close.

Several other research firms have also recently issued reports on CYBR. Rosenblatt Securities reaffirmed a "buy" rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Canaccord Genuity Group lowered their price objective on CyberArk Software from $300.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, June 4th. JMP Securities reissued a "market outperform" rating and set a $310.00 target price on shares of CyberArk Software in a research report on Monday, June 17th. DA Davidson upped their price target on CyberArk Software from $285.00 to $315.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Robert W. Baird increased their price target on shares of CyberArk Software from $295.00 to $315.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $292.32.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR traded up $9.39 during trading on Friday, hitting $280.62. The company's stock had a trading volume of 543,454 shares, compared to its average volume of 534,553. The company has a market capitalization of $11.86 billion, a PE ratio of -438.47 and a beta of 1.11. CyberArk Software has a fifty-two week low of $152.03 and a fifty-two week high of $293.31. The business has a 50 day moving average price of $268.97 and a two-hundred day moving average price of $257.75.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly 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. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. During the same quarter last year, the company earned ($0.58) EPS. CyberArk Software's revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities analysts expect that CyberArk Software will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently bought and sold shares of CYBR. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of CyberArk Software by 16.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,876 shares of the technology company's stock valued at $411,000 after acquiring an additional 264 shares in the last quarter. Janney Montgomery Scott LLC increased its position in CyberArk Software by 63.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,766 shares of the technology company's stock worth $1,701,000 after purchasing an additional 3,014 shares during the period. Norges Bank acquired a new position in CyberArk Software during the 4th quarter worth approximately $100,797,000. PNC Financial Services Group Inc. raised its stake in shares of CyberArk Software by 23.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the technology company's stock worth $749,000 after buying an additional 648 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $217,000. 91.84% of the stock is 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.