CyberArk Software (NASDAQ:CYBR) PT Raised to $340.00

CyberArk Software (NASDAQ:CYBR) had its price target lifted by analysts at KeyCorp from $310.00 to $340.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 13.34% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Guggenheim reaffirmed a “buy” rating and set a $300.00 price target on shares of CyberArk Software in a research note on Tuesday, June 25th. Barclays increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. DA Davidson increased their price target on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. BTIG Research raised their target price on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush raised their target price on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $299.64.

CyberArk Software Stock Up 1.5 %

Shares of CYBR stock opened at $299.98 on Friday. The firm has a market capitalization of $12.68 billion, a P/E ratio of -468.72 and a beta of 1.12. CyberArk Software has a twelve month low of $154.76 and a twelve month high of $308.63. The stock’s fifty day simple moving average is $280.22 and its 200 day simple moving average is $261.09.

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

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in shares of CyberArk Software in the first quarter worth about $27,000. Mather Group LLC. bought a new position in CyberArk Software in the 2nd quarter valued at approximately $27,000. ORG Partners LLC purchased a new stake in CyberArk Software during the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. purchased a new stake in CyberArk Software during the 2nd quarter valued at $39,000. Finally, Arcadia Investment Management Corp MI increased its stake in shares of CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after purchasing an additional 54 shares in the last quarter. 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.