Wells Fargo & Company Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective raised by Wells Fargo & Company from $300.00 to $350.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other research firms have also recently weighed in on CYBR. BTIG Research raised their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities raised their price target on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday. Barclays increased their price objective on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna increased their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Trading Up 1.3 %

Shares of CYBR opened at $305.27 on Thursday. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16. The stock has a 50 day simple moving average of $285.06 and a 200-day simple moving average of $267.28. The stock has a market cap of $13.30 billion, a PE ratio of 1,130.63 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same period last year, the firm posted ($0.31) EPS. The business’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts forecast that CyberArk Software will post -0.99 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its stake in shares of CyberArk Software by 28.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after purchasing an additional 371 shares during the period. Russell Investments Group Ltd. raised its stake in shares of CyberArk Software by 58.3% in the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after purchasing an additional 12,242 shares during the period. US Bancorp DE raised its stake in shares of CyberArk Software by 3.6% in the 1st quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after purchasing an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of CyberArk Software by 17.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock valued at $5,996,000 after purchasing an additional 3,349 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of CyberArk Software by 15.2% in the 1st quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock valued at $3,856,000 after purchasing an additional 1,919 shares during the period. Institutional investors and hedge funds 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.