CyberArk Software (NASDAQ:CYBR) Price Target Raised to $385.00

CyberArk Software (NASDAQ:CYBR) had its target price raised by Royal Bank of Canada from $358.00 to $385.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, December 16th. KeyCorp increased their target price on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Stifel Nicolaus boosted their price target on CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JMP Securities increased their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $335.00 price objective on shares of CyberArk Software in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $345.22.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $339.47 on Friday. CyberArk Software has a one year low of $209.50 and a one year high of $348.02. The stock has a 50-day moving average of $311.92 and a 200 day moving average of $287.20. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 1,257.34 and a beta of 1.13.

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

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc bought a new stake in CyberArk Software in the 2nd quarter valued at $711,000. HighTower Advisors LLC grew its position in shares of 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. Sycomore Asset Management increased its holdings 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 worth $15,973,000 after purchasing an additional 16,294 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after buying an additional 9,570 shares in the last quarter. Hedge funds and other institutional investors 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.