CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Citigroup Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Citigroup from $355.00 to $410.00 in a research report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on the company. DA Davidson boosted their price objective on CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Robert W. Baird boosted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and issued a $360.00 price objective on shares of CyberArk Software in a report on Tuesday. Scotiabank began coverage on shares of CyberArk Software in a research note on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Wedbush raised their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $353.93.

CyberArk Software Stock Down 0.9 %

CyberArk Software stock opened at $352.22 on Friday. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $363.00. The firm has a market cap of $15.35 billion, a PE ratio of 1,304.57 and a beta of 1.13. The company’s 50 day moving average is $324.09 and its two-hundred day moving average is $292.75.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data 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. 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 analysts’ expectations of $234.10 million. During the same period last year, the firm earned ($0.31) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc acquired a new position in CyberArk Software in the 2nd quarter valued at $711,000. HighTower Advisors LLC boosted its holdings in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares in the last quarter. Sycomore Asset Management boosted its holdings in shares of 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 acquiring an additional 16,294 shares in the last quarter. Groupama Asset Managment increased its stake 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 worth $304,000 after acquiring an additional 5,402 shares during the period. Finally, Jennison Associates LLC raised its holdings in 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 purchasing an additional 9,570 shares in the last quarter. 91.84% of the stock is 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.