CyberArk Software (NASDAQ:CYBR) Price Target Raised to $340.00

CyberArk Software (NASDAQ:CYBR) had its price target boosted by KeyCorp from $310.00 to $340.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

CYBR has been the topic of several other reports. Wedbush boosted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada started coverage on shares of CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 target price on the stock. BTIG Research increased their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Finally, DA Davidson increased their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $301.19.

CyberArk Software Stock Performance

CYBR opened at $300.06 on Friday. CyberArk Software has a fifty-two week low of $154.76 and a fifty-two week high of $308.63. The company has a fifty day moving average of $280.81 and a two-hundred day moving average of $261.38. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -468.84 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The business had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. During the same quarter in the previous year, the company earned ($0.58) earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis. On average, equities research analysts forecast that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Trading of CyberArk Software

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of CyberArk Software in the 2nd quarter worth $27,000. Montag A & Associates Inc. acquired a new stake in shares of CyberArk Software in the first quarter valued at about $27,000. ORG Partners LLC acquired a new stake in shares of CyberArk Software in the second quarter valued at about $33,000. 1620 Investment Advisors Inc. acquired a new stake in shares of CyberArk Software in the second quarter valued at about $39,000. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.