Rosenblatt Securities Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price increased by Rosenblatt Securities from $415.00 to $445.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also weighed in on CYBR. Canaccord Genuity Group upped their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research note on Tuesday. KeyCorp upped their price objective on shares of CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Mizuho upped their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Piper Sandler boosted their target price on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.67.

CyberArk Software Trading Down 0.2 %

Shares of CYBR opened at $413.31 on Friday. The firm has a market capitalization of $18.01 billion, a P/E ratio of 1,530.83 and a beta of 1.15. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $419.49. The firm has a fifty day moving average price of $346.11 and a 200-day moving average price of $306.73.

CyberArk Software (NASDAQ:CYBR) last issued 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 net margin of 1.38% and a return on equity of 2.29%. Analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV increased its holdings in CyberArk Software by 221.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,081 shares of the technology company’s stock worth $1,027,000 after buying an additional 2,122 shares during the period. Soros Fund Management LLC purchased a new stake in CyberArk Software in the 4th quarter worth approximately $46,747,000. Schonfeld Strategic Advisors LLC boosted its position in CyberArk Software by 1.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 62,643 shares of the technology company’s stock worth $20,870,000 after purchasing an additional 733 shares in the last quarter. Lido Advisors LLC purchased a new stake in CyberArk Software in the 4th quarter worth approximately $740,000. Finally, Northern Trust Corp boosted its position in CyberArk Software by 63.1% in the 4th quarter. Northern Trust Corp now owns 219,964 shares of the technology company’s stock worth $73,281,000 after purchasing an additional 85,062 shares in the last quarter. Institutional investors and hedge funds 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.