CyberArk Software (NASDAQ:CYBR) Price Target Raised to $390.00

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by stock analysts at DA Davidson from $360.00 to $390.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 14.75% from the stock’s current price.

A number of other brokerages have also recently issued reports on CYBR. Oppenheimer upped their price objective on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Piper Sandler increased their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JMP Securities upped their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Barclays lifted their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Wedbush upped their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $344.22.

CyberArk Software Stock Up 1.3 %

Shares of NASDAQ:CYBR traded up $4.22 during midday trading on Friday, reaching $339.88. 53,851 shares of the company were exchanged, compared to its average volume of 392,655. The firm has a market cap of $14.81 billion, a PE ratio of 1,258.86 and a beta of 1.13. CyberArk Software has a fifty-two week low of $209.50 and a fifty-two week high of $348.02. The stock has a fifty day simple moving average of $310.94 and a two-hundred day simple moving average of $286.38.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned ($0.31) earnings per share. As a group, analysts forecast that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares during the period. Arcadia Investment Management Corp MI increased its position in shares of CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the period. Transcendent Capital Group LLC bought a new stake in CyberArk Software during the third quarter valued at $51,000. Future Financial Wealth Managment LLC bought a new position in shares of CyberArk Software during the 3rd quarter worth approximately $87,000. Finally, Centaurus Financial Inc. bought a new position in shares of CyberArk Software during the 2nd quarter worth about $109,000. 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.