Analysts at Cowen and Company began coverage on shares of CyberArk Software Ltd. (NASDAQ:CYBR) in a research note issued on Monday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Several other analysts have also recently commented on the company. Nomura boosted their price target on CyberArk Software from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Imperial Capital reissued an “in-line” rating and set a $45.00 price objective on shares of CyberArk Software in a research note on Sunday, July 24th. DA Davidson reissued a “neutral” rating and set a $51.00 price objective (up previously from $42.00) on shares of CyberArk Software in a research note on Friday, July 8th. Barclays PLC raised CyberArk Software from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $44.00 to $60.00 in a research note on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. lowered CyberArk Software from a “buy” rating to a “neutral” rating in a research note on Monday, August 15th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.97.
Shares of CyberArk Software (NASDAQ:CYBR) opened at 51.56 on Monday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 67.14 and a beta of 2.90. CyberArk Software has a 1-year low of $31.50 and a 1-year high of $59.28. The firm has a 50-day moving average price of $53.41 and a 200-day moving average price of $47.15.
CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.09. CyberArk Software had a return on equity of 12.54% and a net margin of 14.55%. The firm earned $50.40 million during the quarter, compared to analysts’ expectations of $48.25 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities analysts forecast that CyberArk Software will post $1.07 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Societe Generale acquired a new position in CyberArk Software during the second quarter worth approximately $126,000. SG Americas Securities LLC acquired a new position in CyberArk Software during the second quarter worth approximately $126,000. Public Employees Retirement Association of Colorado acquired a new position in CyberArk Software during the second quarter worth approximately $136,000. Springbok Capital Management LLC acquired a new position in CyberArk Software during the first quarter worth approximately $168,000. Finally, Royal Bank of Canada increased its position in CyberArk Software by 1.3% in the first quarter. Royal Bank of Canada now owns 5,730 shares of the company’s stock worth $244,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 70.11% of the company’s stock.
About CyberArk Software
CyberArk Software Ltd. (CyberArk) provides information technology (IT) security solutions that protect organizations from cyber-attacks. The Company’s products include Privileged Account Security Solution and Sensitive Information Management Solution. Its Privileged Account Security Solution enables its customers to secure, manage and monitor privileged account access and activities.
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