DA Davidson Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by DA Davidson from $360.00 to $390.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 14.88% from the company’s previous close.

CYBR has been the topic of a number of other reports. Susquehanna lifted their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their target price on CyberArk Software from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird increased their price target on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. UBS Group raised their price target on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada boosted 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. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average price target of $345.22.

CyberArk Software Stock Up 1.1 %

Shares of CyberArk Software stock opened at $339.47 on Friday. CyberArk Software has a 12 month low of $209.50 and a 12 month high of $348.02. The business has a fifty day simple moving average of $311.92 and a 200 day simple moving average of $286.97. The stock has a market cap of $14.79 billion, a PE ratio of 1,257.34 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, topping the consensus estimate 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 return on equity of 2.29% and a net margin of 1.38%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS. Analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. raised its stake in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after acquiring an additional 42 shares during the period. Greenleaf Trust raised its position in shares of CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares during the period. Signaturefd LLC lifted its stake in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after buying an additional 49 shares during the last quarter. Austin Private Wealth LLC lifted its stake in shares of CyberArk Software by 6.8% during the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after buying an additional 52 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the period. 91.84% of the stock is 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.