CyberArk Software Ltd. (NASDAQ:CYBR) Receives $339.22 Consensus Price Target from Analysts

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) have received a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twenty-six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $345.22.

Several research analysts have weighed in on the company. Scotiabank started coverage on CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price on the stock. Canaccord Genuity Group lifted their price objective on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada increased their target price on CyberArk Software from $358.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler lifted their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Mizuho increased their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in CyberArk Software by 16.0% during the second quarter. Van ECK Associates Corp now owns 16,574 shares of the technology company’s stock worth $4,532,000 after buying an additional 2,289 shares during the last quarter. Farther Finance Advisors LLC raised 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 valued at $276,000 after acquiring an additional 191 shares during the period. CIBC Asset Management Inc raised 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 acquiring an additional 228 shares during the period. Hodges Capital Management Inc. lifted its holdings in CyberArk Software by 143.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 48,665 shares of the technology company’s stock valued at $13,306,000 after purchasing an additional 28,655 shares during the last quarter. Finally, 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 during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Price Performance

Shares of CYBR stock opened at $339.47 on Thursday. The stock has a market cap of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13. The stock has a 50-day moving average of $311.92 and a 200-day moving average of $286.97. CyberArk Software has a one year low of $209.50 and a one year high of $348.02.

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

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.