CyberArk Software (NASDAQ:CYBR) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of CyberArk Software (NASDAQ:CYBR - Free Report) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $300.00 price target on the technology company's stock.

Other equities research analysts have also recently issued reports about the stock. DA Davidson raised their target price on shares of CyberArk Software from $275.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. Rosenblatt Securities reissued a buy rating and issued a $310.00 target price on shares of CyberArk Software in a research report on Wednesday, May 1st. Wedbush restated an outperform rating and issued a $285.00 price target on shares of CyberArk Software in a report on Friday, May 3rd. Cantor Fitzgerald restated an overweight rating and issued a $300.00 price target on shares of CyberArk Software in a report on Friday. Finally, Canaccord Genuity Group cut their price target on shares of CyberArk Software from $300.00 to $280.00 and set a buy rating on the stock in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and an average price target of $275.00.

CyberArk Software Stock Performance

CyberArk Software stock traded up $1.41 during trading on Tuesday, hitting $262.75. The company's stock had a trading volume of 420,456 shares, compared to its average volume of 571,833. The stock's fifty day moving average is $241.93 and its 200 day moving average is $242.36. CyberArk Software has a 1-year low of $142.92 and a 1-year high of $283.00. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of -410.55 and a beta of 1.08.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.67. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The business had revenue of $221.55 million for the quarter, compared to analyst estimates of $213.42 million. On average, research analysts anticipate that CyberArk Software will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently added to or reduced their stakes in CYBR. Jennison Associates LLC raised its position in CyberArk Software by 81.4% in the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company's stock worth $230,871,000 after acquiring an additional 472,961 shares in the last quarter. Polar Capital Holdings Plc raised its holdings in CyberArk Software by 15.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company's stock worth $97,412,000 after buying an additional 79,506 shares during the period. Norges Bank acquired a new stake in CyberArk Software during the 4th quarter worth about $100,797,000. Whale Rock Capital Management LLC raised its holdings in CyberArk Software by 21.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company's stock worth $122,144,000 after buying an additional 81,801 shares during the period. Finally, Swedbank AB acquired a new stake in CyberArk Software during the 1st quarter worth about $109,466,000. Institutional investors and hedge funds own 91.84% of the company's stock.

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.