CyberArk Software (NASDAQ:CYBR) Price Target Raised to $370.00

CyberArk Software (NASDAQ:CYBR) had its target price upped by Stifel Nicolaus from $335.00 to $370.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Mizuho boosted their price target on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird boosted their target price on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. Wedbush boosted their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Scotiabank assumed coverage on shares of CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $336.41.

CyberArk Software Price Performance

Shares of CYBR stock opened at $319.15 on Wednesday. The firm’s 50-day simple moving average is $305.63 and its 200-day simple moving average is $281.34. CyberArk Software has a 1-year low of $205.59 and a 1-year high of $333.32. The firm has a market cap of $13.91 billion, a P/E ratio of 1,182.08 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share 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 for the quarter, compared to the consensus estimate of $234.10 million. During the same quarter last year, the firm posted ($0.31) earnings per share. CyberArk Software’s revenue was up 25.6% on a year-over-year basis. Analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new position in CyberArk Software during the third quarter worth $1,135,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of CyberArk Software during the third quarter worth $144,000. TT International Asset Management LTD bought a new position in shares of CyberArk Software in the 3rd quarter worth about $3,224,000. Coldstream Capital Management Inc. boosted its holdings in shares of CyberArk Software by 3.5% in the 3rd 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 during the period. Finally, Geode Capital Management LLC grew its position in shares of CyberArk Software by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock valued at $108,020,000 after buying an additional 14,724 shares during the last quarter. 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.