Oppenheimer Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective increased by equities research analysts at Oppenheimer from $360.00 to $420.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 9.72% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price objective on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, January 27th. UBS Group upped their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group upped their target price on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Citigroup increased their target price on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.89.

CyberArk Software Stock Performance

CyberArk Software stock opened at $382.81 on Wednesday. The stock has a 50-day simple moving average of $338.27 and a 200 day simple moving average of $301.64. The stock has a market capitalization of $16.68 billion, a P/E ratio of 1,417.87 and a beta of 1.15. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $383.17.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million during 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 last year, the firm posted ($0.31) earnings per share. Research analysts forecast that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $25,000. Plato Investment Management Ltd acquired a new position in CyberArk Software during the 4th quarter worth about $39,000. Montag A & Associates Inc. increased its position in CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Assetmark Inc. increased its position in shares of CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares during the period. Finally, Brown Lisle Cummings Inc. bought a new position in shares of CyberArk Software in the 4th quarter worth about $50,000. 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.