CyberArk Software (NASDAQ:CYBR) Now Covered by Analysts at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada initiated coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Friday, Marketbeat Ratings 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 objective suggests a potential upside of 16.88% from the company’s current price.

CYBR has been the topic of several other reports. Citigroup boosted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Susquehanna upped their price target on CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Barclays upped their price target on CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Wedbush upped their price target on CyberArk Software from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Robert W. Baird upped their price target on CyberArk Software from $295.00 to $315.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $292.32.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $280.62 on Friday. CyberArk Software has a fifty-two week low of $152.03 and a fifty-two week high of $293.31. The stock has a 50 day moving average price of $268.97 and a two-hundred day moving average price of $257.78. The company has a market capitalization of $11.86 billion, a P/E ratio of -438.47 and a beta of 1.11.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $224.71 million for the quarter, compared to analysts’ expectations of $219.06 million. During the same period in the previous year, the firm earned ($0.58) earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. As a group, equities analysts predict that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Montag A & Associates Inc. purchased a new position in shares of CyberArk Software during the 1st quarter valued at about $27,000. Mather Group LLC. bought a new stake in CyberArk Software during the 2nd quarter valued at approximately $27,000. ORG Partners LLC bought a new stake in CyberArk Software during the 2nd quarter valued at approximately $33,000. FinTrust Capital Advisors LLC bought a new stake in CyberArk Software during the 4th quarter valued at approximately $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in CyberArk Software during the 2nd quarter valued at approximately $39,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

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.