CyberArk Software (NASDAQ:CYBR – Get a Free Report) The price target was raised by equity analysts at Stifel Nicolaus from $335.00 to $370.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s shares. Stifel Nicolaus’ price target suggests a potential upside of 17.39% from the stock’s previous closing price.
CYBR has been the subject of several other research reports. Mizuho raised their price target on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13. Truist Financial reaffirmed a Buy rating and issued a $350.00 target price (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14. Oppenheimer lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22. Scotiabank initiated coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a ‘sector outperform’ rating and a $340.00 price target for the company. Finally, Robert W. Baird raised his price target on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $336.41.
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CyberArk Software Stock Performance
Shares of CYBR opened at $315.18 on Wednesday. CyberArk Software has a fifty-two week low of $205.59 and a fifty-two week high of $333.32. The company’s 50-day simple moving average is $305.15 and its two-hundred-day simple moving average is $280.72. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 1,167.38 and a beta of 1.13.
CyberArk Software (NASDAQ:CYBR – Get Free Report) posted its latest quarterly results on Wednesday, November 13. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s quarterly revenue increased 25.6% compared to the same quarter last year. During the same quarter of the previous year, the company posted earnings per share ($0.31). Equities research analysts predict that CyberArk Software will post -0.58 EPS for the current year.
Institutional investors weigh in on CyberArk software
Several hedge funds and other institutional investors have recently changed their holdings of CYBR. Jennison Associates LLC increased its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares in the last quarter. Groupama Asset Management increased its stake in CyberArk Software shares by 0.5% in the third quarter. Groupama Asset Management now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. RGM Capital LLC increased its position in shares of CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after purchasing an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in CyberArk Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares in the last quarter. Finally, Swedbank AB increased its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 shares during the period. 91.84% of the shares are currently owned by hedge funds and other institutional investors.
CyberArk Software Company Profile
(Get a free report)
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. The solutions include Privileged Access Manager, which provides risk-based login 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.
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