CyberArk Software (NASDAQ:CYBR) Given New $345.00 Price Target at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Piper Sandler from $300.00 to $345.00 in a report published 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. Mizuho lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Robert W. Baird increased their price target on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Susquehanna boosted their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Wedbush upped their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Up 1.3 %

Shares of NASDAQ:CYBR opened at $305.27 on Thursday. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16. The company’s fifty day simple moving average is $285.06 and its 200 day simple moving average is $267.28.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the previous year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Research analysts expect that CyberArk Software will post -0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYBR. Geode Capital Management LLC boosted its position in CyberArk Software by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock worth $108,020,000 after buying an additional 14,724 shares during the period. Continuum Advisory LLC raised its position in shares of CyberArk Software by 33.2% in the 3rd quarter. Continuum Advisory LLC now owns 7,823 shares of the technology company’s stock worth $2,357,000 after acquiring an additional 1,950 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in CyberArk Software in the third quarter valued at approximately $8,612,000. Groupama Asset Managment boosted its stake in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of CyberArk Software by 11.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 12,190 shares of the technology company’s stock worth $3,555,000 after purchasing an additional 1,300 shares in the last quarter. 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.