Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Wells Fargo & Company from $410.00 to $425.00 in a research note issued to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird upped their target price on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Scotiabank raised their price target on shares of CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Needham & Company LLC upped their price target on shares of CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a report on Thursday, January 9th. Finally, Canaccord Genuity Group boosted their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $362.26.

CyberArk Software Stock Down 0.1 %

NASDAQ CYBR opened at $359.46 on Monday. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $366.48. The business has a 50 day moving average price of $329.93 and a two-hundred day moving average price of $296.06. The stock has a market cap of $15.66 billion, a PE ratio of 1,331.38 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share 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 period in the prior year, the firm earned ($0.31) earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in CYBR. Nepsis Inc. lifted its holdings in CyberArk Software by 882.4% in the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after acquiring an additional 505,088 shares during the last quarter. Jennison Associates LLC raised its holdings in CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after buying an additional 391,900 shares during the period. International Assets Investment Management LLC purchased a new stake in CyberArk Software during the third quarter valued at about $82,485,000. Clearbridge Investments LLC boosted its holdings in shares of CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after buying an additional 160,269 shares during the period. Finally, Swedbank AB increased its position in shares of CyberArk Software by 19.0% in the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after acquiring an additional 87,201 shares in the last quarter. 91.84% of the stock is currently owned by 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.