JPMorgan Chase & Co. Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $375.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by JPMorgan Chase & Co. from $355.00 to $375.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.99% from the company’s current price.

A number of other research analysts have also issued reports on CYBR. KeyCorp boosted their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Mizuho boosted their target price on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Barclays boosted their price target on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price target on shares of CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $335.11.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $317.82 on Monday. CyberArk Software has a one year low of $205.59 and a one year high of $333.32. The company has a 50-day simple moving average of $303.70 and a 200-day simple moving average of $279.68. The firm has a market capitalization of $13.85 billion, a PE ratio of 1,177.11 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating 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%. CyberArk Software’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) EPS. Equities analysts forecast that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently made changes to their positions in CYBR. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CyberArk Software by 11.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the technology company’s stock valued at $602,000 after acquiring an additional 223 shares during the period. Assenagon Asset Management S.A. grew its position in CyberArk Software by 13.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,682 shares of the technology company’s stock valued at $460,000 after purchasing an additional 195 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in CyberArk Software by 35.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,920 shares of the technology company’s stock valued at $1,619,000 after buying an additional 1,553 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in CyberArk Software in the 2nd quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of CyberArk Software by 30.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 9,588 shares of the technology company’s stock valued at $2,622,000 after buying an additional 2,243 shares during the period. Institutional investors and hedge funds 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.