CyberArk Software (NASDAQ:CYBR) Price Target Raised to $380.00

CyberArk Software (NASDAQ:CYBR) had its price target increased by Piper Sandler from $345.00 to $380.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other analysts also recently commented on the company. Robert W. Baird raised their target price on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. BTIG Research raised their price objective on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Susquehanna lifted their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of CyberArk Software from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $346.52.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $344.55 on Monday. CyberArk Software has a fifty-two week low of $213.37 and a fifty-two week high of $348.29. The stock has a 50 day simple moving average of $314.25 and a two-hundred day simple moving average of $288.66. The company has a market cap of $15.01 billion, a P/E ratio of 1,276.16 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 analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. CyberArk Software’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. On average, research analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently bought and sold shares of CYBR. Assetmark Inc. increased its stake 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 valued at $39,000 after buying an additional 123 shares during the period. Transcendent Capital Group LLC purchased a new position in CyberArk Software during the 3rd quarter valued at about $51,000. Future Financial Wealth Managment LLC bought a new stake in shares of CyberArk Software in the 3rd quarter valued at about $87,000. Centaurus Financial Inc. purchased a new stake in shares of CyberArk Software in the 2nd quarter worth approximately $109,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of CyberArk Software during the second quarter valued at approximately $129,000. Hedge funds and other institutional investors 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.