CyberArk Software (NASDAQ:CYBR) PT Raised to $325.00

CyberArk Software (NASDAQ:CYBR) had its target price increased by stock analysts at Wedbush from $300.00 to $325.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Wedbush’s price objective would suggest a potential upside of 18.23% from the company’s previous close.

Several other equities analysts have also recently weighed in on CYBR. Royal Bank of Canada initiated coverage on CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Monday, June 17th. Rosenblatt Securities restated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Tuesday, August 6th. Canaccord Genuity Group decreased their price objective on CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Finally, KeyCorp raised their price objective on CyberArk Software from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $296.92.

CyberArk Software Price Performance

Shares of CYBR traded down $16.72 during midday trading on Tuesday, hitting $274.89. The stock had a trading volume of 559,926 shares, compared to its average volume of 532,173. The company has a 50 day simple moving average of $271.19 and a two-hundred day simple moving average of $258.76. CyberArk Software has a twelve month low of $152.03 and a twelve month high of $294.89. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of -427.81 and a beta of 1.11.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. During the same quarter last year, the business posted ($0.58) EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts forecast that CyberArk Software will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently made changes to their positions in CYBR. Geneos Wealth Management Inc. raised its position in shares of CyberArk Software by 64.7% in the first quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock valued at $1,951,000 after buying an additional 2,885 shares in the last quarter. Congress Asset Management Co. MA raised its position in shares of CyberArk Software by 29.3% in the first quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock valued at $13,307,000 after buying an additional 11,345 shares in the last quarter. Contour Asset Management LLC acquired a new stake in shares of CyberArk Software in the fourth quarter valued at approximately $48,605,000. Russell Investments Group Ltd. raised its position in shares of CyberArk Software by 58.3% in the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after buying an additional 12,242 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of CyberArk Software in the first quarter valued at approximately $2,741,000. 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.