Oppenheimer Reaffirms Market Perform Rating for CyberArk Software (NASDAQ:CYBR)

Key Points

• Oppenheimer has reaffirmed its "market perform" rating on CyberArk Software, amidst mixed ratings from other research firms which have downgraded it to "hold".
• The stock price is currently at $414.37, reflecting a 0.7% increase, and has a 52-week range from $230.00 to $452.00.
• CyberArk reported a 46% increase in revenue year-over-year, with earnings per share of $0.88, exceeding analyst expectations.

Oppenheimer reissued their market perform rating on shares of CyberArk Software (NASDAQ:CYBR - Free Report) in a research report report published on Friday,Benzinga reports.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $448.00 price objective (up from $420.00) on shares of CyberArk Software in a research report on Thursday. Needham & Company LLC upped their price objective on shares of CyberArk Software from $460.00 to $551.00 and gave the stock a "buy" rating in a research report on Wednesday. BTIG Research downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Barclays upped their price objective on shares of CyberArk Software from $405.00 to $440.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Roth Capital initiated coverage on shares of CyberArk Software in a research report on Tuesday, May 13th. They issued a "buy" rating and a $415.00 price objective for the company. Seventeen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $433.39.

CyberArk Software Trading Up 0.6%

CYBR stock traded up $2.53 during midday trading on Friday, hitting $414.00. The stock had a trading volume of 3,227,349 shares, compared to its average volume of 2,003,482. The firm has a market cap of $20.46 billion, a P/E ratio of -122.85 and a beta of 0.96. The company has a current ratio of 2.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. CyberArk Software has a 1-year low of $230.00 and a 1-year high of $452.00. The business has a fifty day moving average price of $391.99 and a two-hundred day moving average price of $368.15.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The firm had revenue of $328.03 million for the quarter, compared to analyst estimates of $315.43 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business's quarterly revenue was up 46.0% compared to the same quarter last year. On average, sell-side analysts predict that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in CyberArk Software in the 2nd quarter worth $30,000. Golden State Wealth Management LLC increased its holdings in CyberArk Software by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after acquiring an additional 39 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after acquiring an additional 46 shares in the last quarter. Bessemer Group Inc. increased its holdings in CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in CyberArk Software in the 1st quarter worth $34,000. 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.