CyberArk Software (NASDAQ:CYBR) Price Target Raised to $370.00 at Robert W. Baird

CyberArk Software (NASDAQ:CYBR) had its target price increased by Robert W. Baird from $355.00 to $370.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential upside of 15.93% from the company’s current price.

Several other research firms have also recently issued reports on CYBR. Mizuho upped their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank began coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Oppenheimer increased their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. BTIG Research raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $335.11.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $319.16 on Tuesday. CyberArk Software has a 12 month low of $205.59 and a 12 month high of $333.32. The firm has a market capitalization of $13.91 billion, a P/E ratio of 1,182.07 and a beta of 1.13. The company’s fifty day moving average price is $303.70 and its 200 day moving average price is $279.68.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results 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. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter in the previous year, the business posted ($0.31) earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new position in CyberArk Software in the second quarter valued at approximately $39,000. Assetmark Inc. boosted its position in shares of CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares in the last quarter. Arcadia Investment Management Corp MI boosted 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 purchasing an additional 54 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software during the third quarter worth $51,000. Finally, DT Investment Partners LLC acquired a new stake in shares of CyberArk Software during the second quarter worth $78,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.