Published On: Tue, Sep 6th, 2016

CyberArk Software’s (CYBR) “Buy” Rating Reaffirmed at Nomura

CyberArk Software Ltd. (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by equities researchers at Nomura in a research report issued on Tuesday. They currently have a $62.00 target price on the stock. Nomura’s target price points to a potential upside of 11.95% from the company’s previous close.
CyberArk Software (NASDAQ:CYBR) opened at 55.38 on Tuesday. CyberArk Software has a 52-week low of $31.50 and a 52-week high of $57.57. The company has a market capitalization of $1.64 billion and a price-to-earnings ratio of 72.11. The firm has a 50 day moving average of $54.50 and a 200-day moving average of $45.58.
CyberArk Software (NASDAQ:CYBR) last released its earnings results on Tuesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.09. The firm had revenue of $50.40 million for the quarter, compared to analysts’ expectations of $48.25 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts expect that CyberArk Software will post $1.07 EPS for the current year.

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CYBR has been the topic of a number of other reports. Imperial Capital upped their target price on shares of CyberArk Software from $41.00 to $45.00 and gave the stock an “in-line” rating in a research note on Thursday, May 19th. Oppenheimer Holdings restated an “outperform” rating and set a $60.00 target price on shares of CyberArk Software in a research note on Thursday, August 11th. William Blair restated an “outperform” rating on shares of CyberArk Software in a research note on Wednesday, August 10th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of CyberArk Software in a report on Thursday, August 11th. Finally, Barclays PLC lowered their price target on CyberArk Software from $67.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, June 1st. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. CyberArk Software has a consensus rating of “Buy” and a consensus target price of $57.97.
Other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado purchased a new position in CyberArk Software during the second quarter valued at $136,000. Springbok Capital Management LLC purchased a new position in CyberArk Software during the first quarter valued at $168,000. Royal Bank of Canada raised its position in CyberArk Software by 1.3% in the first quarter. Royal Bank of Canada now owns 5,730 shares of the company’s stock valued at $244,000 after buying an additional 72 shares in the last quarter. Prospera Financial Services Inc purchased a new position in CyberArk Software during the second quarter valued at $270,000. Finally, Credit Agricole S A purchased a new position in CyberArk Software during the first quarter valued at $311,000.
CyberArk Software Ltd. (CyberArk) provides information technology (IT) security solutions that protect organizations from cyber-attacks. The Company’s products include Privileged Account Security Solution and Sensitive Information Management Solution. Its Privileged Account Security Solution enables its customers to secure, manage and monitor privileged account access and activities.

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