Needham & Company LLC Raises CyberArk Software (NASDAQ:CYBR) Price Target to $410.00

CyberArk Software (NASDAQ:CYBR) had its target price boosted by Needham & Company LLC from $360.00 to $410.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 19.26% from the company’s current price.

A number of other analysts have also issued reports on CYBR. Susquehanna lifted their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. JMP Securities upped their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Scotiabank assumed coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. DA Davidson raised their price target on shares of CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, BTIG Research boosted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $350.22.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $343.79 on Thursday. The company has a market cap of $14.98 billion, a P/E ratio of 1,273.34 and a beta of 1.13. CyberArk Software has a one year low of $213.37 and a one year high of $348.29. The business’s 50-day simple moving average is $318.20 and its 200 day simple moving average is $290.01.

CyberArk Software (NASDAQ:CYBR) last posted 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 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 business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) earnings per share. Analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Assetmark Inc. increased its position in shares of CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the period. Transcendent Capital Group LLC bought a new position in CyberArk Software during the third quarter valued at about $51,000. Future Financial Wealth Managment LLC acquired a new position in CyberArk Software during the third quarter worth about $87,000. Centaurus Financial Inc. bought a new stake in CyberArk Software in the second quarter worth about $109,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in CyberArk Software in the 3rd quarter valued at about $144,000. 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.