CyberArk Software (NASDAQ:CYBR) Price Target Raised to $370.00 at Robert W. Baird

CyberArk Software (NASDAQ:CYBR) had its target price boosted by stock analysts at Robert W. Baird from $355.00 to $370.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 15.93% from the stock’s current price.

A number of other brokerages also recently weighed in on CYBR. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. Mizuho upped their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada upped their price objective on shares of CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Piper Sandler increased their target price on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group raised their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $335.11.

CyberArk Software Trading Up 1.9 %

Shares of CYBR stock opened at $319.16 on Tuesday. CyberArk Software has a 1 year low of $205.59 and a 1 year high of $333.32. The firm’s fifty day moving average price is $303.70 and its two-hundred day moving average price is $279.68. The firm has a market capitalization of $13.91 billion, a P/E ratio of 1,182.07 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share 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 analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. 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, equities research analysts forecast that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in CyberArk Software by 11.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the technology company’s stock worth $602,000 after buying an additional 223 shares during the period. Assenagon Asset Management S.A. raised its holdings in CyberArk Software by 13.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,682 shares of the technology company’s stock worth $460,000 after purchasing an additional 195 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in CyberArk Software during the second quarter worth $39,000. Geneos Wealth Management Inc. raised its holdings in shares of CyberArk Software by 30.5% in the second quarter. Geneos Wealth Management Inc. now owns 9,588 shares of the technology company’s stock worth $2,622,000 after acquiring an additional 2,243 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in shares of CyberArk Software in the second quarter worth $78,000. 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.