CyberArk Software (NASDAQ:CYBR) Price Target Raised to $385.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by Truist Financial from $350.00 to $385.00 in a research note released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on CYBR. 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 report on Thursday, November 14th. Mizuho upped their price objective on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. KeyCorp lifted their target price on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their price target on CyberArk Software from $410.00 to $425.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Susquehanna boosted their price objective on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $367.44.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $371.63 on Tuesday. The stock has a market capitalization of $16.19 billion, a P/E ratio of 1,376.46 and a beta of 1.13. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $377.22. The company has a 50 day moving average price of $333.24 and a 200 day moving average price of $297.93.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $234.10 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Research analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of CYBR. Coldstream Capital Management Inc. boosted its stake in CyberArk Software by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after purchasing an additional 42 shares during the period. Montag A & Associates Inc. boosted its stake in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after buying an additional 42 shares during the period. Greenleaf Trust boosted its stake in shares of CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after buying an additional 45 shares during the period. Signaturefd LLC grew its holdings in shares of CyberArk Software by 4.2% during the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after buying an additional 49 shares during the last quarter. Finally, Austin Private Wealth LLC increased its position in CyberArk Software by 6.8% in the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after acquiring an additional 52 shares during the period. 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.