CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Truist Financial Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target lifted by Truist Financial from $385.00 to $450.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price suggests a potential upside of 10.87% from the stock’s current price.

Several other research firms have also weighed in on CYBR. KeyCorp increased their price target on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Citigroup upped their price objective on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, January 17th. DA Davidson upped their price objective on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Piper Sandler upped their price objective on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC upped their price objective on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $393.00.

CyberArk Software Trading Down 2.0 %

NASDAQ:CYBR traded down $8.43 during midday trading on Friday, hitting $405.88. 296,556 shares of the company traded hands, compared to its average volume of 538,922. The firm’s fifty day moving average is $346.11 and its 200-day moving average is $306.73. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $419.49. The firm has a market capitalization of $17.68 billion, a P/E ratio of 1,504.71 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. On average, research analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares in the last quarter. Groupama Asset Managment raised its stake in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. Jennison Associates LLC raised its stake in CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in CyberArk Software in the third quarter valued at about $8,612,000. Finally, International Assets Investment Management LLC purchased a new stake in CyberArk Software in the third quarter valued at about $82,485,000. Institutional investors 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.