CyberArk Software (NASDAQ:CYBR) Receives Equal Weight Rating from Barclays

Key Points

• CyberArk Software maintained an "equal weight" rating from Barclays, with a new target price of $520.00, up from $440.00, indicating a potential upside of 3.17% from the current stock price.
• After recent quarterly earnings, CyberArk reported an EPS of $0.88, exceeding estimates by $0.09, and recorded revenue of $328.03 million, a 46.0% increase year-over-year.
• Overall, CyberArk has a consensus "Hold" rating from analysts, with 11 'Buy' ratings and 20 'Hold' ratings among reviewed firms, highlighting varied investor sentiment.

CyberArk Software (NASDAQ:CYBR - Get Free Report)'s stock had its "equal weight" rating reissued by Barclays in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $520.00 target price on the technology company's stock, up from their previous target price of $440.00. Barclays's target price would indicate a potential upside of 3.17% from the stock's current price.

CYBR has been the subject of several other reports. Scotiabank reiterated a "sector perform" rating and issued a $448.00 target price (down from $460.00) on shares of CyberArk Software in a research report on Tuesday, August 5th. Piper Sandler reiterated a "neutral" rating and issued a $448.00 target price (up from $440.00) on shares of CyberArk Software in a research report on Thursday, July 31st. DA Davidson upped their target price on shares of CyberArk Software from $465.00 to $518.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. UBS Group lowered shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and upped their target price for the stock from $480.00 to $485.00 in a research report on Thursday, July 31st. Finally, Needham & Company LLC upped their target price on shares of CyberArk Software from $460.00 to $551.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of "Hold" and an average price target of $446.46.

CyberArk Software Stock Up 2.1%

CYBR opened at $504.02 on Tuesday. The company has a fifty day moving average price of $460.18 and a 200-day moving average price of $402.21. The firm has a market capitalization of $25.44 billion, a P/E ratio of -149.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31. CyberArk Software has a one year low of $271.68 and a one year high of $514.28.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. The firm had revenue of $328.03 million during the quarter, compared to analyst estimates of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The business's revenue for the quarter was up 46.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. Equities research analysts expect that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of CyberArk Software during the second quarter valued at about $30,000. NewSquare Capital LLC raised its stake in shares of CyberArk Software by 78.0% during the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company's stock valued at $30,000 after acquiring an additional 32 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after acquiring an additional 39 shares during the last quarter. AlphaCore Capital LLC bought a new position in CyberArk Software in the second quarter worth about $33,000. Finally, Bessemer Group Inc. raised its stake in CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after buying an additional 80 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.