CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Piper Sandler Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target lifted by research analysts at Piper Sandler from $345.00 to $380.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 10.69% from the company’s previous close.

Several other analysts have also weighed in on CYBR. Oppenheimer upped their target price on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. Mizuho increased their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Susquehanna lifted their price objective on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Barclays increased their target price on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus price target of $346.52.

CyberArk Software Stock Performance

NASDAQ:CYBR traded up $3.82 during trading hours on Monday, hitting $343.29. The company’s stock had a trading volume of 113,311 shares, compared to its average volume of 409,892. CyberArk Software has a 52-week low of $213.05 and a 52-week high of $348.24. The business’s 50-day moving average is $311.92 and its two-hundred day moving average is $287.20. The company has a market capitalization of $14.96 billion, a PE ratio of 1,271.49 and a beta of 1.13.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CYBR. Jennison Associates LLC lifted its stake in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares during the last quarter. Groupama Asset Managment lifted its position in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares during the last quarter. RGM Capital LLC boosted its holdings in shares of CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its position in shares of CyberArk Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the last quarter. Finally, Swedbank AB raised its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 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.