CyberArk Software (NASDAQ:CYBR) PT Raised to $325.00

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by Wedbush from $300.00 to $325.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wedbush’s price objective points to a potential upside of 18.23% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Robert W. Baird upped their price target on CyberArk Software from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Jefferies Financial Group upped their price target on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. DA Davidson upped their price target on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Citigroup upped their price target on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $296.92.

CyberArk Software Price Performance

Shares of NASDAQ CYBR traded down $16.72 during trading hours on Tuesday, hitting $274.89. 559,926 shares of the company’s stock were exchanged, compared to its average volume of 532,173. CyberArk Software has a 1-year low of $152.03 and a 1-year high of $294.89. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of -427.81 and a beta of 1.11. The company’s 50-day moving average price is $271.19 and its 200-day moving average price is $258.76.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The business had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. During the same quarter in the previous year, the firm earned ($0.58) EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. On average, research analysts expect that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in CyberArk Software during the 2nd quarter worth $109,000. Sanctuary Advisors LLC acquired a new stake in CyberArk Software during the 2nd quarter worth $2,380,000. Sycomore Asset Management raised its stake in CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after buying an additional 16,294 shares during the period. Clearbridge Investments LLC raised its stake in CyberArk Software by 250.0% during the 2nd 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, Cetera Investment Advisers raised its stake in CyberArk Software by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 11,733 shares of the technology company’s stock worth $3,208,000 after buying an additional 281 shares during the period. 91.84% of the stock is currently owned by institutional investors.

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.