CyberArk Software (NASDAQ:CYBR) Price Target Raised to $390.00

CyberArk Software (NASDAQ:CYBR) had its target price lifted by DA Davidson from $360.00 to $390.00 in a research note published on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

CYBR has been the topic of several other research reports. UBS Group boosted their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wedbush boosted their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley reissued an “equal weight” rating and issued a $316.00 price objective on shares of CyberArk Software in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $335.00 target price on shares of CyberArk Software in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $345.22.

CyberArk Software Price Performance

NASDAQ CYBR opened at $339.47 on Friday. The stock has a market capitalization of $14.79 billion, a P/E ratio of 1,257.34 and a beta of 1.13. The firm’s 50-day moving average is $311.92 and its two-hundred day moving average is $286.97. CyberArk Software has a 12 month low of $209.50 and a 12 month high of $348.02.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) EPS. As a group, analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in the company. Assetmark Inc. boosted its position in shares of CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the period. Arcadia Investment Management Corp MI lifted its stake in CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software in the third quarter valued at approximately $51,000. Future Financial Wealth Managment LLC purchased a new position in shares of CyberArk Software during the third quarter worth approximately $87,000. Finally, Centaurus Financial Inc. purchased a new position in shares of CyberArk Software during the second quarter worth approximately $109,000. 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.