Piper Sandler Raises CyberArk Software (NASDAQ:CYBR) Price Target to $380.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Piper Sandler from $345.00 to $380.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the stock. Susquehanna raised their price target 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. Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $316.00 target price on shares of CyberArk Software in a report on Tuesday, December 31st. Jefferies Financial Group raised their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus raised their target price on CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.52.

CyberArk Software Stock Up 1.9 %

Shares of CyberArk Software stock opened at $345.92 on Monday. CyberArk Software has a 52-week low of $213.05 and a 52-week high of $348.24. The firm’s 50 day moving average price is $313.09 and its 200-day moving average price is $288.05. The company has a market cap of $15.07 billion, a P/E ratio of 1,281.23 and a beta of 1.13.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc purchased a new stake in shares of CyberArk Software during the second quarter worth approximately $711,000. HighTower Advisors LLC boosted its stake in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares in the last quarter. Sycomore Asset Management lifted its stake in shares of CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. Groupama Asset Managment grew its holdings in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.