Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by equities researchers at Wells Fargo & Company from $350.00 to $410.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 23.07% from the company’s current price.

Several other research firms have also recently weighed in on CYBR. JMP Securities lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Wedbush increased their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price target on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Susquehanna boosted their price target on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.44.

CyberArk Software Stock Up 4.2 %

NASDAQ CYBR opened at $333.15 on Thursday. The business’s fifty day moving average is $310.09 and its 200 day moving average is $286.03. CyberArk Software has a twelve month low of $205.59 and a twelve month high of $336.84. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 1,233.93 and a beta of 1.13.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in CyberArk Software by 23.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the technology company’s stock worth $276,000 after purchasing an additional 191 shares during the period. CIBC Asset Management Inc lifted its stake in CyberArk Software by 6.4% in the 2nd quarter. CIBC Asset Management Inc now owns 3,814 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 228 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in CyberArk Software by 36.7% during the second quarter. Foundations Investment Advisors LLC now owns 2,746 shares of the technology company’s stock worth $751,000 after purchasing an additional 737 shares during the period. TD Asset Management Inc raised its stake in CyberArk Software by 3.9% in the second quarter. TD Asset Management Inc now owns 14,466 shares of the technology company’s stock valued at $3,955,000 after buying an additional 541 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of CyberArk Software by 3.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 47,100 shares of the technology company’s stock valued at $12,878,000 after buying an additional 1,600 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.