Mizuho Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target upped by research analysts at Mizuho from $345.00 to $365.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Mizuho’s target price indicates a potential upside of 16.48% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Truist Financial reissued a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. JMP Securities upped their price target on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price objective on CyberArk Software from $306.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group upped their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.00.

CyberArk Software Price Performance

NASDAQ CYBR opened at $313.36 on Friday. CyberArk Software has a 1 year low of $198.01 and a 1 year high of $333.32. The company has a market capitalization of $13.65 billion, a PE ratio of 1,160.64 and a beta of 1.13. The company has a fifty day moving average of $302.84 and a 200 day moving average of $278.70.

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

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CyberArk Software by 11.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the technology company’s stock worth $602,000 after acquiring an additional 223 shares during the period. ORG Partners LLC purchased a new position in CyberArk Software during the second quarter worth about $33,000. Assenagon Asset Management S.A. boosted its holdings in CyberArk Software by 13.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,682 shares of the technology company’s stock valued at $460,000 after purchasing an additional 195 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of CyberArk Software by 35.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,920 shares of the technology company’s stock valued at $1,619,000 after buying an additional 1,553 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds 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.