CyberArk Software (NASDAQ:CYBR) Price Target Raised to $390.00 at DA Davidson

CyberArk Software (NASDAQ:CYBR) had its price target lifted by DA Davidson from $360.00 to $390.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group lifted their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wedbush upped their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, KeyCorp boosted their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.22.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $339.47 on Friday. CyberArk Software has a 52-week low of $209.50 and a 52-week high of $348.02. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 1,257.34 and a beta of 1.13. The stock has a 50 day moving average price of $311.92 and a 200 day moving average price of $286.97.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same quarter last year, the firm posted ($0.31) EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts forecast 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 have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of CyberArk Software by 23.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the technology company’s stock worth $276,000 after acquiring an additional 191 shares during the period. CIBC Asset Management Inc raised its stake in CyberArk Software by 6.4% during the second quarter. CIBC Asset Management Inc now owns 3,814 shares of the technology company’s stock worth $1,043,000 after purchasing an additional 228 shares during the period. Foundations Investment Advisors LLC boosted its holdings in CyberArk Software by 36.7% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,746 shares of the technology company’s stock valued at $751,000 after purchasing an additional 737 shares during the last quarter. TD Asset Management Inc grew its stake in shares of CyberArk Software by 3.9% in the 2nd quarter. TD Asset Management Inc now owns 14,466 shares of the technology company’s stock valued at $3,955,000 after buying an additional 541 shares during the period. Finally, Arcadia Investment Management Corp MI increased its holdings in shares of CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the last quarter. 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.