CyberArk Software (NASDAQ:CYBR) Price Target Raised to $485.00

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by KeyCorp from $400.00 to $485.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 19.74% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CYBR. UBS Group upped their price target on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. DA Davidson upped their price target on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. JMP Securities upped their price target on CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a research report on Friday. Citigroup upped their price objective on shares of CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Oppenheimer upped their price objective on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.89.

CyberArk Software Stock Down 2.2 %

CyberArk Software stock traded down $9.28 during midday trading on Friday, reaching $405.03. The stock had a trading volume of 329,463 shares, compared to its average volume of 540,706. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $419.49. The firm’s 50-day moving average price is $346.11 and its 200 day moving average price is $306.73. The firm has a market capitalization of $17.65 billion, a PE ratio of 1,500.18 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. Equities research analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently modified their holdings of CYBR. Norges Bank bought a new position in shares of CyberArk Software during the fourth quarter valued at $203,375,000. Nepsis Inc. increased its holdings in shares of CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after acquiring an additional 505,088 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of CyberArk Software by 32.3% during the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CyberArk Software by 195.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after acquiring an additional 336,462 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of CyberArk Software during the third quarter valued at $82,485,000. 91.84% of the stock is currently owned by institutional investors.

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.