CyberArk Software (NASDAQ:CYBR) Price Target Raised to $450.00 at Citigroup

CyberArk Software (NASDAQ:CYBR) had its target price increased by research analysts at Citigroup from $410.00 to $450.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 23.68% from the stock’s previous close.

A number of other brokerages also recently weighed in on CYBR. Stifel Nicolaus boosted their target price on shares of CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Guggenheim reiterated a “buy” rating and issued a $455.00 target price on shares of CyberArk Software in a research note on Tuesday, February 25th. Wells Fargo & Company lifted their price target on CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $480.00 price objective on shares of CyberArk Software in a research note on Wednesday, February 26th. Finally, Piper Sandler lifted their target price on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $418.15.

CyberArk Software Trading Up 3.4 %

CyberArk Software stock opened at $363.85 on Monday. The company has a fifty day simple moving average of $361.40 and a 200 day simple moving average of $317.37. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The company has a market cap of $15.85 billion, a P/E ratio of -186.59 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released 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 negative net margin of 9.34% and a positive return on equity of 0.45%. On average, equities research analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC boosted its position in CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software during the fourth quarter worth $39,000. Graney & King LLC bought a new stake in shares of CyberArk Software during the fourth quarter worth $43,000. Finally, Montag A & Associates Inc. increased its holdings in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after buying an additional 42 shares in the last quarter. 91.84% of the stock is currently owned by 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.