CyberArk Software (NASDAQ:CYBR) Price Target Raised to $385.00

CyberArk Software (NASDAQ:CYBRGet Free Report) had its target price hoisted by equities research analysts at Truist Financial from $350.00 to $385.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target suggests a potential upside of 4.47% from the company’s previous close.

Several other brokerages have also recently weighed in on CYBR. Canaccord Genuity Group upped their price target on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler lifted 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. Citigroup upped their price objective on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada boosted their target price on shares of CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, KeyCorp raised their price target on shares of CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. One 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $363.56.

Check Out Our Latest Report on CYBR

CyberArk Software Price Performance

Shares of CYBR stock opened at $368.52 on Tuesday. The company’s 50-day simple moving average is $332.21 and its two-hundred day simple moving average is $297.43. CyberArk Software has a one year low of $223.09 and a one year high of $376.61. The company has a market capitalization of $16.06 billion, a P/E ratio of 1,364.94 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBRGet Free Report) last issued its earnings results 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. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. During the same period in the previous year, the company posted ($0.31) EPS. CyberArk Software’s revenue was up 25.6% on a year-over-year basis. On average, research analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several institutional investors have recently bought and sold shares of CYBR. Van ECK Associates Corp raised its position in shares of CyberArk Software by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock valued at $5,953,000 after buying an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after buying an additional 336,462 shares during the last quarter. Sycomore Asset Management increased its position in shares of CyberArk Software by 39.4% during the fourth quarter. Sycomore Asset Management now owns 44,312 shares of the technology company’s stock valued at $14,763,000 after acquiring an additional 12,514 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $964,000. Finally, Stephens Inc. AR raised its stake in shares of CyberArk Software by 6.0% in the 4th quarter. Stephens Inc. AR now owns 2,545 shares of the technology company’s stock valued at $848,000 after acquiring an additional 145 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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