Truist Financial Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by equities researchers at Truist Financial from $350.00 to $385.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price indicates a potential upside of 4.47% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Wedbush raised their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and issued a $360.00 price objective on shares of CyberArk Software in a report on Tuesday, January 14th. Susquehanna lifted their target price 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, Oppenheimer upped their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $363.56.

CyberArk Software Price Performance

Shares of CYBR opened at $368.52 on Tuesday. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $376.61. The stock has a 50 day simple moving average of $332.21 and a two-hundred day simple moving average of $297.43. The firm has a market cap of $16.06 billion, a P/E ratio of 1,364.94 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) EPS. On average, equities analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in CyberArk Software by 6.1% during the fourth quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock valued at $5,953,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after purchasing an additional 336,462 shares during the last quarter. Sycomore Asset Management increased its position in shares of CyberArk Software by 39.4% during the 4th quarter. Sycomore Asset Management now owns 44,312 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 12,514 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in CyberArk Software during the 4th quarter valued at $964,000. Finally, Stephens Inc. AR lifted its position in CyberArk Software by 6.0% in the fourth quarter. Stephens Inc. AR now owns 2,545 shares of the technology company’s stock worth $848,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors 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.