CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00

CyberArk Software (NASDAQ:CYBR) had its target price raised by Wells Fargo & Company from $350.00 to $410.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 20.78% from the company’s previous close.

CYBR has been the topic of a number of other reports. Wedbush increased their target price on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group increased their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JMP Securities lifted their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Robert W. Baird increased their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $345.22.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $339.47 on Thursday. CyberArk Software has a 1 year low of $209.50 and a 1 year high of $348.02. The firm has a 50-day moving average of $311.92 and a 200 day moving average of $286.97. The stock has a market cap of $14.79 billion, a P/E ratio of 1,257.34 and a beta of 1.13.

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

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently modified their holdings of CYBR. Assetmark Inc. grew its stake in shares of CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after buying an additional 123 shares during the period. Arcadia Investment Management Corp MI grew its position in CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after acquiring an additional 54 shares during the period. Transcendent Capital Group LLC acquired a new stake in CyberArk Software during the third quarter worth $51,000. Future Financial Wealth Managment LLC purchased a new stake in CyberArk Software in the third quarter valued at $87,000. Finally, Centaurus Financial Inc. purchased a new stake in CyberArk Software in the second quarter valued at $109,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.