JMP Securities Reaffirms "Market Outperform" Rating for CyberArk Software (NASDAQ:CYBR)

JMP Securities reiterated their market outperform rating on shares of CyberArk Software (NASDAQ:CYBR - Free Report) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $280.00 price objective on the technology company's stock.

Other equities analysts have also recently issued reports about the company. BTIG Research initiated coverage on CyberArk Software in a research report on Thursday, March 28th. They set a buy rating and a $317.00 price target on the stock. Susquehanna boosted their price target on shares of CyberArk Software from $255.00 to $310.00 and gave the stock a positive rating in a research report on Friday, February 9th. Needham & Company LLC restated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday, May 3rd. Bank of America reiterated a buy rating and issued a $315.00 target price on shares of CyberArk Software in a report on Wednesday, April 24th. Finally, Mizuho raised their target price on shares of CyberArk Software from $250.00 to $310.00 and gave the stock a buy rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $265.63.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR traded up $4.28 during trading on Tuesday, hitting $238.30. The company's stock had a trading volume of 678,694 shares, compared to its average volume of 574,629. CyberArk Software has a fifty-two week low of $140.43 and a fifty-two week high of $283.00. The stock's 50-day moving average price is $251.14 and its two-hundred day moving average price is $229.71. The company has a market capitalization of $10.07 billion, a PE ratio of -371.48 and a beta of 1.06.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC boosted its stake in shares of CyberArk Software by 393.5% during the 1st quarter. Vident Advisory LLC now owns 59,580 shares of the technology company's stock worth $15,826,000 after acquiring an additional 47,506 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of CyberArk Software during the 1st quarter worth approximately $2,656,000. Evolutionary Tree Capital Management LLC bought a new position in shares of CyberArk Software during the 1st quarter worth approximately $2,103,000. Clearbridge Investments LLC bought a new position in shares of CyberArk Software during the 1st quarter worth approximately $17,030,000. Finally, Alerus Financial NA bought a new position in shares of CyberArk Software during the 1st quarter worth approximately $2,170,000. 91.84% of the stock is currently 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.