CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Citigroup Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target increased by stock analysts at Citigroup from $355.00 to $410.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 16.40% from the stock’s current price.

A number of other equities analysts also recently issued reports on CYBR. Needham & Company LLC lifted their price target on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. JMP Securities reaffirmed a “market outperform” rating and set a $360.00 target price on shares of CyberArk Software in a research report on Tuesday, January 14th. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th. DA Davidson raised their price objective on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.93.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $352.22 on Friday. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $363.00. The stock has a 50 day moving average price of $324.09 and a two-hundred day moving average price of $292.91. The stock has a market capitalization of $15.35 billion, a PE ratio of 1,304.57 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $234.10 million. During the same quarter last year, the firm posted ($0.31) EPS. CyberArk Software’s revenue was up 25.6% compared to the same quarter last year. Research analysts forecast that CyberArk Software will post -0.58 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently modified their holdings of CYBR. Coldstream Capital Management Inc. grew its stake in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Greenleaf Trust lifted its position in shares of CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after acquiring an additional 45 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after acquiring an additional 49 shares during the period. Austin Private Wealth LLC boosted its holdings in shares of CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after acquiring an additional 52 shares during the period. Finally, Juncture Wealth Strategies LLC grew its position in shares of CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other 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.