Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target upped by Wells Fargo & Company from $350.00 to $410.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

CYBR has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research note on Thursday, November 14th. Barclays raised their price objective on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Jefferies Financial Group increased their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Susquehanna increased their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $345.22.

CyberArk Software Price Performance

Shares of CYBR opened at $339.47 on Thursday. The business’s fifty day moving average price is $311.92 and its 200 day moving average price is $286.97. CyberArk Software has a 12-month low of $209.50 and a 12-month high of $348.02. The stock has a market capitalization of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CYBR. 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. Transcendent Capital Group LLC acquired a new position in shares of CyberArk Software in the 3rd quarter valued at $51,000. Arcadia Investment Management Corp MI boosted its position in shares of CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of CyberArk Software in the 3rd quarter valued at $87,000. Finally, Centaurus Financial Inc. acquired a new position in shares of CyberArk Software in the 2nd quarter valued at $109,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.