CyberArk Software (NASDAQ:CYBR) Price Target Raised to $465.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Robert W. Baird from $455.00 to $465.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently weighed in on CYBR. UBS Group boosted their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. StockNews.com cut CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Truist Financial upped their price objective on shares of CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average target price of $416.67.

CyberArk Software Stock Performance

Shares of CYBR opened at $352.05 on Tuesday. The stock has a 50 day moving average price of $359.76 and a 200 day moving average price of $315.87. CyberArk Software has a one year low of $223.41 and a one year high of $421.00. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of -180.54 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its 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 positive return on equity of 0.45% and a negative net margin of 9.34%. On average, analysts predict that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CYBR. Assenagon Asset Management S.A. increased its position in shares of CyberArk Software by 40.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,363 shares of the technology company’s stock worth $689,000 after acquiring an additional 681 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new stake in CyberArk Software in the 3rd quarter valued at $383,000. Pinnacle Associates Ltd. raised its position in CyberArk Software by 6.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,550 shares of the technology company’s stock valued at $452,000 after purchasing an additional 100 shares during the period. Diversify Wealth Management LLC raised its position in CyberArk Software by 11.8% in the third quarter. Diversify Wealth Management LLC now owns 2,230 shares of the technology company’s stock valued at $644,000 after purchasing an additional 236 shares during the period. Finally, Financial Advocates Investment Management lifted its stake in shares of CyberArk Software by 7.0% during the third quarter. Financial Advocates Investment Management now owns 1,404 shares of the technology company’s stock worth $409,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors 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.