CyberArk Software (NASDAQ:CYBR) Price Target Raised to $335.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Barclays from $330.00 to $335.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler lifted their price objective on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday. BTIG Research lifted their target price 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. Royal Bank of Canada began coverage on shares of CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 target price for the company. Robert W. Baird lifted their target price on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup lifted their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock opened at $305.27 on Thursday. The stock’s 50 day simple moving average is $285.06 and its two-hundred day simple moving average is $267.28. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16.

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

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds have recently added to or reduced their stakes in CYBR. Oppenheimer & Co. Inc. raised its stake in CyberArk Software by 28.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after buying an additional 371 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the period. US Bancorp DE grew its position in shares of CyberArk Software by 3.6% during the 1st quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after acquiring an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of CyberArk Software by 17.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock valued at $5,996,000 after acquiring an additional 3,349 shares during the period. Finally, Blair William & Co. IL grew its position in shares of CyberArk Software by 15.2% during the 1st quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock valued at $3,856,000 after acquiring an additional 1,919 shares during the period. 91.84% of the stock is currently owned by hedge funds and other 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.