Truist Financial Has Lowered Expectations for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target reduced by equities research analysts at Truist Financial from $450.00 to $425.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 22.04% from the stock’s current price.

A number of other equities research analysts have also recently commented on CYBR. KeyCorp raised their price objective on CyberArk Software from $400.00 to $485.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a report on Monday, January 27th. Scotiabank boosted their price target on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Oppenheimer upped their price objective on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price objective on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $418.04.

CyberArk Software Stock Up 3.0 %

Shares of NASDAQ CYBR opened at $348.26 on Monday. The firm has a market cap of $17.21 billion, a PE ratio of -178.59 and a beta of 1.06. The company’s fifty day simple moving average is $363.73 and its 200 day simple moving average is $327.66. CyberArk Software has a 12-month low of $223.41 and a 12-month high of $421.00.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, equities analysts predict that CyberArk Software will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently added to or reduced their stakes in CYBR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in CyberArk Software in the fourth quarter valued at about $25,000. TD Private Client Wealth LLC raised its holdings in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after purchasing an additional 34 shares during the period. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software in the 4th quarter worth approximately $39,000. Graney & King LLC purchased a new position in CyberArk Software in the fourth quarter valued at approximately $43,000. Finally, Montag A & Associates Inc. grew its holdings in CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Institutional investors own 91.84% of the company’s stock.

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.