CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Royal Bank of Canada

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Royal Bank of Canada from $385.00 to $410.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 16.96% from the company’s previous close.

CYBR has been the topic of a number of other reports. Robert W. Baird raised their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. KeyCorp raised their price target on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Truist Financial reaffirmed a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, BTIG Research increased their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus price target of $354.85.

CyberArk Software Price Performance

NASDAQ:CYBR traded down $1.68 during mid-day trading on Tuesday, hitting $350.54. The company’s stock had a trading volume of 86,786 shares, compared to its average volume of 470,349. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $363.00. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 1,298.00 and a beta of 1.13. The business’s fifty day moving average is $325.25 and its two-hundred day moving average is $293.63.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the prior year, the company earned ($0.31) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. Analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of CYBR. International Assets Investment Management LLC purchased a new stake in shares of CyberArk Software during the 3rd quarter worth $82,485,000. Clearbridge Investments LLC lifted its position in shares of 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 purchasing an additional 160,269 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of CyberArk Software by 97.5% during the 4th quarter. SG Americas Securities LLC now owns 167,759 shares of the technology company’s stock worth $55,889,000 after purchasing an additional 82,812 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of CyberArk Software by 89.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock worth $45,745,000 after purchasing an additional 78,887 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of CyberArk Software by 45.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 171,893 shares of the technology company’s stock worth $50,126,000 after purchasing an additional 53,502 shares during the last quarter. 91.84% of the stock is 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.