Royal Bank of Canada Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by Royal Bank of Canada from $385.00 to $410.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Barclays boosted their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. BTIG Research increased their price target on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler upped their target price on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. UBS Group raised their price target on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.74.

CyberArk Software Trading Up 1.0 %

CyberArk Software stock opened at $355.58 on Tuesday. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 1,317.01 and a beta of 1.13. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $363.00. The stock’s 50 day moving average is $325.25 and its 200-day moving average is $293.63.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) EPS. As a group, equities research analysts predict that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CYBR. Ensign Peak Advisors Inc acquired a new stake in shares of CyberArk Software in the second quarter valued at about $711,000. HighTower Advisors LLC boosted its holdings in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares during the last quarter. Sycomore Asset Management increased its position in CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. Groupama Asset Managment raised its holdings in CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares during the period. 91.84% of the stock is 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.