Oppenheimer Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Oppenheimer from $360.00 to $420.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

CYBR has been the topic of several other reports. Royal Bank of Canada raised their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Piper Sandler boosted their price objective on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and set a $415.00 price objective on shares of CyberArk Software in a research report on Monday, January 27th. Citigroup upped their price objective on shares of CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC upped their price target on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.67.

CyberArk Software Price Performance

CYBR opened at $380.34 on Wednesday. The firm has a fifty day moving average price of $337.03 and a 200 day moving average price of $301.09. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $382.19. The stock has a market cap of $16.57 billion, a P/E ratio of 1,408.72 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data 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 business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The company’s revenue was up 25.6% compared to the same quarter last year. Equities analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CyberArk Software during the 4th quarter worth about $25,000. Montag A & Associates Inc. increased its position in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after acquiring an additional 42 shares during the last quarter. Assetmark Inc. increased 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 valued at $39,000 after acquiring an additional 123 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of CyberArk Software during the fourth quarter valued at about $50,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software during the third quarter valued at about $51,000. 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.