CyberArk Software (NASDAQ:CYBR) Price Target Raised to $385.00 at Royal Bank of Canada

CyberArk Software (NASDAQ:CYBR) had its price target lifted by Royal Bank of Canada from $358.00 to $385.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

CYBR has been the topic of several other research reports. Morgan Stanley reissued an “equal weight” rating and issued a $316.00 price objective on shares of CyberArk Software in a research note on Tuesday. Oppenheimer raised their price target on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird raised their target price on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average target price of $345.22.

CyberArk Software Trading Up 1.1 %

NASDAQ:CYBR opened at $339.47 on Friday. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 1,257.34 and a beta of 1.13. CyberArk Software has a twelve month low of $209.50 and a twelve month high of $348.02. The stock has a fifty day simple moving average of $311.92 and a 200-day simple moving average of $286.97.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company 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%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. As a group, equities research analysts predict that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently made changes to their positions in CYBR. Farther Finance Advisors LLC grew its position in CyberArk Software by 23.0% during the second quarter. Farther Finance Advisors LLC now owns 1,023 shares of the technology company’s stock valued at $276,000 after buying an additional 191 shares during the period. CIBC Asset Management Inc raised its holdings 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 worth $1,043,000 after purchasing an additional 228 shares during the period. Foundations Investment Advisors LLC boosted its position 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 in the last quarter. TD Asset Management Inc grew its holdings 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 purchasing an additional 541 shares during the period. Finally, Arcadia Investment Management Corp MI increased its position in shares of CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.