CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Needham & Company LLC

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by investment analysts at Needham & Company LLC from $360.00 to $410.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 19.00% from the company’s previous close.

A number of other brokerages have also weighed in on CYBR. Truist Financial restated a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Susquehanna boosted their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Royal Bank of Canada raised their target price on shares of CyberArk Software from $358.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. KeyCorp boosted their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Oppenheimer raised their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.22.

CyberArk Software Stock Up 0.2 %

NASDAQ:CYBR opened at $344.55 on Thursday. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 1,276.16 and a beta of 1.13. The company’s 50 day moving average price is $315.48 and its 200-day moving average price is $289.05. CyberArk Software has a 52 week low of $213.37 and a 52 week high of $348.29.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same period last year, the business posted ($0.31) EPS. The company’s revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently made changes to their positions in CYBR. Fulton Bank N.A. grew its position in shares of CyberArk Software by 4.7% during the fourth quarter. Fulton Bank N.A. now owns 1,994 shares of the technology company’s stock worth $664,000 after purchasing an additional 90 shares in the last quarter. Capital Market Strategies LLC bought a new position in CyberArk Software in the 4th quarter worth approximately $827,000. Silverleafe Capital Partners LLC purchased a new stake in CyberArk Software during the 4th quarter valued at approximately $799,000. Nordea Investment Management AB raised its position in shares of CyberArk Software by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 3,024 shares of the technology company’s stock valued at $993,000 after buying an additional 221 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of CyberArk Software in the fourth quarter worth $860,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.