CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Citigroup

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by analysts at Citigroup from $355.00 to $410.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 14.92% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Robert W. Baird boosted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus upped their price objective on CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.93.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR traded up $1.26 during midday trading on Friday, reaching $356.77. 313,921 shares of the stock were exchanged, compared to its average volume of 485,688. The company has a 50 day simple moving average of $322.94 and a 200 day simple moving average of $292.18. The stock has a market capitalization of $15.54 billion, a P/E ratio of 1,325.67 and a beta of 1.13. CyberArk Software has a twelve month low of $223.09 and a twelve month high of $363.00.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results 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. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts expect that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Trading of CyberArk Software

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. Coldstream Capital Management Inc. grew its position in CyberArk Software by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after buying an additional 42 shares during the period. Greenleaf Trust grew its holdings in shares of CyberArk Software by 2.5% in the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after acquiring an additional 45 shares during the period. Signaturefd LLC increased its stake in CyberArk Software by 4.2% in the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares in the last quarter. Austin Private Wealth LLC raised its holdings in CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after purchasing an additional 52 shares during the last quarter. Finally, Juncture Wealth Strategies LLC boosted its position in CyberArk Software by 2.1% during the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.