CyberArk Software (NASDAQ:CYBR) Price Target Raised to $385.00 at Royal Bank of Canada

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Royal Bank of Canada from $358.00 to $385.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Oppenheimer raised their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Robert W. Baird raised their price objective on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, UBS Group lifted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $345.22.

CyberArk Software Trading Up 1.1 %

CYBR opened at $339.47 on Friday. The company’s 50 day moving average is $311.92 and its 200 day moving average is $286.97. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 1,257.34 and a beta of 1.13. CyberArk Software has a 12-month low of $209.50 and a 12-month high of $348.02.

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

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc purchased a new stake in CyberArk Software during the 2nd quarter valued at $711,000. HighTower Advisors LLC raised its stake in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares during the period. Sycomore Asset Management lifted its holdings in shares of CyberArk Software by 36.6% in the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after acquiring an additional 16,294 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. Finally, Jennison Associates LLC grew its holdings in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.