Rosenblatt Securities Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price boosted by equities researchers at Rosenblatt Securities from $345.00 to $415.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 11.87% from the company’s current price.

CYBR has been the subject of a number of other reports. Scotiabank upped their target price on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Robert W. Baird upped their price objective on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Mizuho increased their target price on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Susquehanna boosted their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus increased their price objective on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $367.44.

CyberArk Software Price Performance

Shares of CYBR opened at $370.98 on Thursday. The stock has a market capitalization of $16.16 billion, a PE ratio of 1,374.05 and a beta of 1.13. The business’s fifty day moving average price is $335.12 and its 200 day moving average price is $299.11. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $378.62.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping 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 company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. During the same period in the prior year, the company earned ($0.31) earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. As a group, research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in CyberArk Software in the fourth quarter worth approximately $25,000. Assetmark Inc. boosted its stake 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 worth $39,000 after acquiring an additional 123 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after acquiring an additional 42 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of CyberArk Software in the 4th quarter worth $50,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software during the third quarter worth $51,000. Institutional investors and hedge funds 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.