CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00

CyberArk Software (NASDAQ:CYBR) had its price target boosted by Needham & Company LLC from $360.00 to $410.00 in a research report released on Thursday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other research firms have also recently commented on CYBR. Canaccord Genuity Group raised their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Susquehanna raised 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. Piper Sandler raised their price target on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, January 6th. KeyCorp raised their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company raised their price target on CyberArk Software from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

CyberArk Software Trading Down 0.2 %

CyberArk Software stock opened at $343.79 on Thursday. CyberArk Software has a twelve month low of $213.37 and a twelve month high of $348.29. The stock has a 50 day moving average of $318.20 and a two-hundred day moving average of $290.20. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 1,273.34 and a beta of 1.13.

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

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. grew its position in shares of CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after purchasing an additional 42 shares during the period. Greenleaf Trust grew 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 grew its position in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Austin Private Wealth LLC grew its position in shares of CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares during the period. Finally, Juncture Wealth Strategies LLC grew its position in shares of CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors 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.