CyberArk Software (NASDAQ:CYBR) Price Target Raised to $420.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by research analysts at Oppenheimer from $360.00 to $420.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price indicates a potential upside of 11.41% from the company’s previous close.

A number of other brokerages have also recently issued reports on CYBR. Citigroup boosted their target price on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. DA Davidson boosted their price objective on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $360.00 target price on shares of CyberArk Software in a research note on Tuesday, January 14th. Susquehanna increased their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities raised their price objective on shares of CyberArk Software from $345.00 to $415.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.67.

CyberArk Software Stock Performance

NASDAQ CYBR traded up $0.79 on Wednesday, hitting $377.00. 87,259 shares of the stock traded hands, compared to its average volume of 454,494. The business’s fifty day moving average is $337.03 and its two-hundred day moving average is $301.09. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $379.00. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 1,398.20 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share 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 analyst estimates of $234.10 million. During the same quarter last year, the business earned ($0.31) earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently added to or reduced their stakes in CYBR. Jennison Associates LLC boosted its holdings in CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares during the period. Groupama Asset Managment boosted its position in CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the period. Nepsis Inc. grew its holdings in CyberArk Software by 882.4% in the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after acquiring an additional 505,088 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of CyberArk Software by 4.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 560,353 shares of the technology company’s stock valued at $186,682,000 after acquiring an additional 24,805 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of CyberArk Software by 19.0% during the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after purchasing an additional 87,201 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.