CyberArk Software (NASDAQ:CYBR) Price Target Raised to $400.00 at Scotiabank

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Scotiabank from $340.00 to $400.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

A number of other research analysts have also issued reports on CYBR. Piper Sandler boosted their price objective on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Mizuho upped their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Barclays upped their target price 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $358.74.

CyberArk Software Price Performance

CYBR stock opened at $355.58 on Tuesday. The firm has a fifty day moving average price of $325.25 and a two-hundred day moving average price of $293.63. CyberArk Software has a 1-year low of $223.09 and a 1-year high of $363.00. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 1,317.01 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data 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. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. CyberArk Software’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently made changes to their positions in the company. Nepsis Inc. grew its position in CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after purchasing an additional 505,088 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the third quarter worth $82,485,000. Clearbridge Investments LLC grew its holdings in shares of CyberArk Software by 250.0% during the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after buying an additional 160,269 shares in the last quarter. SG Americas Securities LLC raised its position in CyberArk Software by 97.5% during the fourth quarter. SG Americas Securities LLC now owns 167,759 shares of the technology company’s stock valued at $55,889,000 after buying an additional 82,812 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of CyberArk Software by 89.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock valued at $45,745,000 after purchasing an additional 78,887 shares during the period. Institutional investors and hedge funds 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.