Cyberark Software (NASDAQ:CYBR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cyberark Software (NASDAQ:CYBR) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $149.00 price target on the technology company’s stock.

According to Zacks, “CyberArk is benefiting from growing adoption of its solutions, which is helping it win deals. Rising demand for privileged access security on the back of digital transformation and cloud migration strategies is a key growth driver. Strong revenue growth across the Americas, EMEA and APJ is a positive. Strong demand across banking, insurance, IT services, healthcare, and media is a tailwind. Shares have outperformed the industry year to date. However, increasing OpEx due to various improvement initiatives are expected to hurt the bottom line in the near term. Near-term prospects for CyberArk are not promising as changing customer spending behavior has recently hit several other players in this space. A rise in costs due to seasonal employee expenses and the marquee Americas customer event is expected to be an overhang in the last quarter of this year.”

CYBR has been the subject of a number of other research reports. JMP Securities upgraded Heritage Insurance from a market perform rating to an outperform rating and set a $19.00 price objective for the company in a report on Tuesday, May 14th. Barclays set a $14.00 price objective on Vale and gave the company a buy rating in a report on Friday, April 12th. Wedbush set a $30.00 price objective on Aquestive Therapeutics and gave the company a buy rating in a report on Friday, March 22nd. Berenberg Bank reiterated a buy rating and issued a GBX 3,600 ($47.04) price objective on shares of in a report on Friday, May 31st. Finally, Mizuho upped their price objective on Cyberark Software from $135.00 to $140.00 and gave the company a buy rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating, nineteen 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 an average target price of $113.00.

Shares of CYBR stock traded up $1.69 on Tuesday, reaching $141.40. 5,067 shares of the stock were exchanged, compared to its average volume of 662,000. The company has a market capitalization of $5.30 billion, a PE ratio of 99.78, a PEG ratio of 7.41 and a beta of 1.58. Cyberark Software has a one year low of $59.02 and a one year high of $144.18. The firm’s 50 day moving average price is $130.01.

Cyberark Software (NASDAQ:CYBR) last released its earnings results on Tuesday, May 14th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.33. The company had revenue of $95.94 million during the quarter, compared to the consensus estimate of $92.42 million. Cyberark Software had a return on equity of 12.73% and a net margin of 14.79%. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, research analysts expect that Cyberark Software will post 1.2 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in shares of Cyberark Software by 2.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,510,482 shares of the technology company’s stock valued at $179,824,000 after acquiring an additional 30,358 shares in the last quarter. Swedbank acquired a new stake in shares of Cyberark Software during the 1st quarter valued at $120,062,000. OppenheimerFunds Inc. boosted its holdings in shares of Cyberark Software by 21.4% during the 1st quarter. OppenheimerFunds Inc. now owns 735,302 shares of the technology company’s stock valued at $87,538,000 after acquiring an additional 129,450 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Cyberark Software by 3.8% during the 4th quarter. BlackRock Inc. now owns 668,893 shares of the technology company’s stock valued at $49,592,000 after acquiring an additional 24,783 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Cyberark Software by 65.5% during the 4th quarter. Two Sigma Advisers LP now owns 617,900 shares of the technology company’s stock valued at $45,811,000 after acquiring an additional 244,600 shares in the last quarter. Institutional investors own 71.68% of the company’s stock.

About Cyberark Software

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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