Analysts Set CyberArk Software Ltd. (NASDAQ:CYBR) Target Price at $328.37

CyberArk Software Ltd. (NASDAQ:CYBR) has been given an average recommendation of “Moderate Buy” by the twenty-six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $331.46.

Several brokerages have weighed in on CYBR. JMP Securities increased their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada lifted their price objective on CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Truist Financial reissued a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Finally, UBS Group lifted their price target on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

CyberArk Software Trading Down 2.5 %

CYBR opened at $312.13 on Friday. The stock has a market capitalization of $13.60 billion, a P/E ratio of 1,156.08 and a beta of 1.13. The stock has a 50-day moving average price of $300.33 and a 200-day moving average price of $277.29. CyberArk Software has a 12-month low of $198.01 and a 12-month high of $333.32.

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

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of the business. Jennison Associates LLC raised its position in CyberArk Software by 0.8% in the 3rd 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 during the last quarter. Groupama Asset Managment raised its holdings in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. RGM Capital LLC lifted its position in CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after purchasing an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its position in CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after purchasing an additional 14,927 shares during the period. Finally, Swedbank AB grew its position in CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares during the period. 91.84% of the stock is owned by hedge funds and other 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.