KeyCorp Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective upped by KeyCorp from $340.00 to $355.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on CYBR. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Barclays raised their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. DA Davidson boosted their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Robert W. Baird raised their price target on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Up 1.3 %

CyberArk Software stock opened at $305.27 on Thursday. The stock has a 50-day moving average price of $285.06 and a 200 day moving average price of $267.28. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.31) EPS. Research analysts anticipate that CyberArk Software will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently made changes to their positions in CYBR. Swedbank AB acquired a new stake in CyberArk Software in the 1st quarter valued at approximately $109,466,000. 1832 Asset Management L.P. boosted its position in shares of CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after buying an additional 358,602 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the third quarter valued at $82,485,000. Anomaly Capital Management LP purchased a new stake in shares of CyberArk Software in the 2nd quarter valued at $49,145,000. Finally, Clearbridge Investments LLC lifted its stake in CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after acquiring an additional 160,269 shares in the last quarter. 91.84% of the stock is currently 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.