Piper Sandler Reiterates Neutral Rating for CyberArk Software (NASDAQ:CYBR)

Key Points

• Piper Sandler has reaffirmed a neutral rating for CyberArk Software, raising the target price to $448.00, which suggests a potential upside of 2.94% from the stock's previous close.
• In recent analysis, CyberArk received various ratings from other analysts, with a consensus rating of "Moderate Buy" and an average target price of $426.04.
• The company reported earnings of $0.98 per share for the last quarter, exceeding expectations and reflecting a 43.3% year-over-year increase in revenue.

CyberArk Software (NASDAQ:CYBR - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Piper Sandler in a report released on Thursday,Benzinga reports. They currently have a $448.00 price target on the technology company's stock, up from their previous price target of $440.00. Piper Sandler's target price would suggest a potential upside of 8.21% from the stock's current price.

CYBR has been the subject of several other research reports. Stifel Nicolaus reissued a "hold" rating and set a $444.00 price target on shares of CyberArk Software in a research report on Thursday. Robert W. Baird boosted their price objective on shares of CyberArk Software from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. UBS Group lowered shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from $480.00 to $485.00 in a report on Thursday. KeyCorp decreased their price objective on CyberArk Software from $485.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $420.00 target price on shares of CyberArk Software in a research note on Tuesday, July 22nd. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $433.39.

CyberArk Software Price Performance

Shares of CyberArk Software stock traded up $2.53 during trading on Thursday, hitting $414.00. The stock had a trading volume of 3,227,349 shares, compared to its average volume of 2,164,878. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of -122.85 and a beta of 0.96. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software has a 12 month low of $230.00 and a 12 month high of $452.00. The business's 50-day moving average is $391.99 and its 200 day moving average is $368.15.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. During the same period in the prior year, the firm earned $0.54 earnings per share. CyberArk Software's revenue was up 46.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the company. Thoma Bravo L.P. acquired a new position in shares of CyberArk Software in the 4th quarter valued at about $380,637,000. Invesco Ltd. boosted its holdings in CyberArk Software by 12.2% in the first quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock valued at $381,904,000 after purchasing an additional 122,423 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CyberArk Software by 1,598.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after buying an additional 921,523 shares during the last quarter. First Trust Advisors LP grew its position in shares of CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock worth $313,084,000 after buying an additional 20,832 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of CyberArk Software by 0.7% in the first quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company's stock worth $300,448,000 after buying an additional 6,314 shares during the last quarter. 91.84% of the stock is currently 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.