KeyCorp Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price raised by KeyCorp from $355.00 to $400.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other brokerages have also weighed in on CYBR. Scotiabank began coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective for the company. Barclays lifted their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and set a $360.00 target price on shares of CyberArk Software in a report on Tuesday, January 14th. Needham & Company LLC upped their price target on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Finally, Citigroup increased their target price on shares of CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $358.74.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $358.93 on Tuesday. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $364.18. The stock’s 50-day simple moving average is $327.68 and its 200-day simple moving average is $294.66. The firm has a market cap of $15.64 billion, a price-to-earnings ratio of 1,329.42 and a beta of 1.13.

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 the consensus estimate 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 return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) EPS. As a group, research analysts predict that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in CyberArk Software in the 4th quarter valued at $25,000. 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 worth $39,000 after acquiring an additional 123 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of CyberArk Software in the third quarter valued at about $51,000. Kieckhefer Group LLC bought a new position in shares of CyberArk Software during the fourth quarter valued at about $67,000. Finally, Future Financial Wealth Managment LLC purchased a new position in CyberArk Software during the third quarter worth about $87,000. 91.84% of the stock is owned by institutional investors.

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.