CyberArk Software (NASDAQ:CYBR) Price Target Raised to $390.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by DA Davidson from $360.00 to $390.00 in a research report report published on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Several other research analysts have also commented on CYBR. Barclays raised their price objective on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wedbush raised their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. KeyCorp upped their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Canaccord Genuity Group lifted their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $316.00 target price on shares of CyberArk Software in a research report on Tuesday, December 31st. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $345.22.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $339.47 on Friday. The business has a 50-day moving average of $311.92 and a two-hundred day moving average of $287.20. The firm has a market capitalization of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13. CyberArk Software has a 12 month low of $209.50 and a 12 month high of $348.02.

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, 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 firm 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 company earned ($0.31) EPS. The company’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently bought and sold shares of the business. Ensign Peak Advisors Inc acquired a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $711,000. HighTower Advisors LLC increased its position in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after buying an additional 2,062 shares during the period. Sycomore Asset Management increased 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 worth $15,973,000 after buying an additional 16,294 shares during the period. Groupama Asset Managment boosted its holdings in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after acquiring an additional 5,402 shares during the period. Finally, Jennison Associates LLC grew its position in shares of CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the last quarter. Institutional investors 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.