Morgan Stanley Initiates Coverage on CyberArk Software (NASDAQ:CYBR)

Equities research analysts at Morgan Stanley began coverage on shares of CyberArk Software (NASDAQ:CYBR) in a report released on Tuesday. The firm set an “equal weight” rating on the technology company’s stock.

CYBR has been the topic of several other reports. Truist Financial lifted their target price on CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Mizuho boosted their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Canaccord Genuity Group raised their price objective on CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Royal Bank of Canada raised their price target on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $418.15.

CyberArk Software Price Performance

Shares of CYBR traded down $1.99 during mid-day trading on Tuesday, reaching $344.46. The company had a trading volume of 35,310 shares, compared to its average volume of 492,059. The company’s 50-day moving average is $363.86 and its 200-day moving average is $321.91. CyberArk Software has a twelve month low of $223.41 and a twelve month high of $421.00. The company has a market capitalization of $17.03 billion, a P/E ratio of -176.64 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, equities analysts expect that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC boosted its holdings in shares of CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares in the last quarter. CenterBook Partners LP increased its stake in CyberArk Software by 2.4% in the fourth quarter. CenterBook Partners LP now owns 1,603 shares of the technology company’s stock valued at $534,000 after purchasing an additional 38 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Montag A & Associates Inc. raised its stake in shares of CyberArk Software by 47.2% in the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after purchasing an additional 42 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of CyberArk Software by 0.6% in the fourth quarter. Continuum Advisory LLC now owns 7,871 shares of the technology company’s stock valued at $2,622,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

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.