CyberArk Software (NASDAQ:CYBR) Earns “Equal Weight” Rating from Morgan Stanley

CyberArk Software (NASDAQ:CYBR)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a report released on Tuesday,Benzinga reports. They currently have a $316.00 price target on the technology company’s stock. Morgan Stanley’s target price indicates a potential downside of 3.71% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Piper Sandler increased their target price on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Jefferies Financial Group boosted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Oppenheimer increased their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.22.

CyberArk Software Price Performance

NASDAQ:CYBR traded up $8.56 during trading hours on Tuesday, reaching $328.16. The company had a trading volume of 214,701 shares, compared to its average volume of 510,257. The firm has a market cap of $14.30 billion, a PE ratio of 1,215.45 and a beta of 1.13. CyberArk Software has a 1-year low of $205.59 and a 1-year high of $333.32. The business’s 50 day moving average price is $308.53 and its 200-day moving average price is $285.13.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Several institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its position in shares of CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares during the period. Arcadia Investment Management Corp MI lifted its position in shares of CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after purchasing an additional 54 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software during the third quarter worth about $51,000. Future Financial Wealth Managment LLC purchased a new position in shares of CyberArk Software in the third quarter valued at approximately $87,000. Finally, Centaurus Financial Inc. purchased a new position in CyberArk Software in the 2nd quarter valued at approximately $109,000. 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.