Truist Financial Issues Pessimistic Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price reduced by Truist Financial from $450.00 to $425.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective would suggest a potential upside of 26.59% from the company’s previous close.

A number of other brokerages have also recently commented on CYBR. Royal Bank of Canada lifted their price target on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. StockNews.com downgraded CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Piper Sandler increased their price target on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird raised their price target on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company upped their price objective on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and an average target price of $417.22.

CyberArk Software Stock Down 1.6 %

CYBR opened at $335.74 on Monday. The company has a market cap of $16.59 billion, a P/E ratio of -172.17 and a beta of 1.06. The firm’s 50-day moving average price is $364.16 and its 200-day moving average price is $326.66. CyberArk Software has a 52-week low of $223.41 and a 52-week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, research analysts anticipate that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in the stock. Thoma Bravo L.P. purchased a new position in CyberArk Software during the fourth quarter valued at $380,637,000. Norges Bank acquired a new position in shares of CyberArk Software during the 4th quarter worth about $203,375,000. Nepsis Inc. raised its position in shares of CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after purchasing an additional 505,088 shares during the last quarter. Jennison Associates LLC lifted its stake in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after buying an additional 336,462 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.