KeyCorp Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $340.00

CyberArk Software (NASDAQ:CYBR) had its price target upped by analysts at KeyCorp from $310.00 to $340.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 13.34% from the company’s current price.

CYBR has been the subject of several other research reports. Robert W. Baird upped their price objective on shares of CyberArk Software from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a research report on Friday, August 9th. Barclays increased their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. DA Davidson raised their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Susquehanna boosted their price objective on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $299.64.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $299.98 on Friday. The firm has a market cap of $12.68 billion, a PE ratio of -468.72 and a beta of 1.12. The firm’s 50 day simple moving average is $280.22 and its 200-day simple moving average is $261.09. CyberArk Software has a one year low of $154.76 and a one year high of $308.63.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Montag A & Associates Inc. bought a new stake in CyberArk Software during the 1st quarter worth about $27,000. Mather Group LLC. acquired a new position in shares of CyberArk Software during the 2nd quarter worth about $27,000. ORG Partners LLC acquired a new position in shares of CyberArk Software in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. acquired a new position in shares of CyberArk Software in the 2nd quarter valued at approximately $39,000. Finally, Arcadia Investment Management Corp MI grew 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. 91.84% of the stock is 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.