CyberArk Software (NASDAQ:CYBR) Given New $410.00 Price Target at Citigroup

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by Citigroup from $355.00 to $410.00 in a research note issued to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Mizuho boosted their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Scotiabank started coverage on CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price on the stock. Oppenheimer boosted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC increased their price objective on shares of CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and an average target price of $353.93.

CyberArk Software Trading Down 0.9 %

Shares of NASDAQ:CYBR opened at $352.22 on Friday. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $363.00. The business has a 50 day moving average of $324.09 and a two-hundred day moving average of $292.75. The company has a market capitalization of $15.35 billion, a PE ratio of 1,304.57 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.31) EPS. Equities research analysts predict that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Institutional investors and hedge funds have recently bought and sold shares of the company. Ensign Peak Advisors Inc purchased a new stake in shares of CyberArk Software during the 2nd quarter valued at approximately $711,000. HighTower Advisors LLC increased its stake in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after acquiring an additional 2,062 shares during the last quarter. Sycomore Asset Management raised its position in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. Groupama Asset Managment lifted its stake in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the last quarter. 91.84% of the stock is currently 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.