CyberArk Software (NASDAQ:CYBR) Price Target Increased to $360.00 by Analysts at Oppenheimer

CyberArk Software (NASDAQ:CYBR) had its price target raised by Oppenheimer from $310.00 to $360.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on CYBR. Jefferies Financial Group boosted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Rosenblatt Securities restated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Wedbush lifted their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Scotiabank began coverage on CyberArk Software in a research note on Monday. They set a “sector outperform” rating and a $340.00 price target on the stock. One analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $306.58.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $293.46 on Tuesday. CyberArk Software has a one year low of $154.76 and a one year high of $308.63. The firm has a market cap of $12.40 billion, a PE ratio of -458.53 and a beta of 1.12. The firm’s 50 day simple moving average is $281.97 and its 200-day simple moving average is $262.09.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The business had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same period in the previous year, the company posted ($0.58) earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Equities research analysts predict that CyberArk Software will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently added to or reduced their stakes in CYBR. PNC Financial Services Group Inc. lifted its holdings in shares of CyberArk Software by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the technology company’s stock valued at $749,000 after purchasing an additional 648 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in CyberArk Software in the 1st quarter valued at about $80,000. Wealth Enhancement Advisory Services LLC purchased a new stake in CyberArk Software in the 1st quarter worth approximately $526,000. KRS Capital Management LLC increased its stake in CyberArk Software by 9.4% in the first quarter. KRS Capital Management LLC now owns 2,800 shares of the technology company’s stock valued at $744,000 after purchasing an additional 240 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its holdings in shares of CyberArk Software by 3.2% during the 1st quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock worth $425,000 after acquiring an additional 50 shares during the period. Hedge funds and other 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.