CyberArk Software (NASDAQ:CYBR) Price Target Raised to $340.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by KeyCorp from $310.00 to $340.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research firms have also recently weighed in on CYBR. Wedbush lifted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. 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 research note on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. Royal Bank of Canada began coverage on shares of CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 target price on the stock. Finally, Guggenheim restated a “buy” rating and set a $300.00 target price on shares of CyberArk Software in a research note on Tuesday, June 25th. One analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $301.19.

CyberArk Software Price Performance

Shares of CYBR stock opened at $300.06 on Friday. CyberArk Software has a 1 year low of $154.76 and a 1 year high of $308.63. The firm has a fifty day moving average price of $280.81 and a 200-day moving average price of $261.38. The company has a market cap of $12.68 billion, a price-to-earnings ratio of -468.84 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The firm had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same quarter in the previous year, the firm posted ($0.58) EPS. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that CyberArk Software will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its stake in CyberArk Software by 121.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,277 shares of the technology company’s stock worth $718,000 after purchasing an additional 1,794 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in CyberArk Software by 23.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the technology company’s stock valued at $749,000 after acquiring an additional 648 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in CyberArk Software in the fourth quarter valued at approximately $400,000. Congress Asset Management Co. MA boosted its stake in CyberArk Software by 29.3% in the first quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock valued at $13,307,000 after acquiring an additional 11,345 shares in the last quarter. Finally, Central Bank & Trust Co. acquired a new stake in CyberArk Software in the first quarter valued at approximately $53,000. 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.