CyberArk Software (NASDAQ:CYBR) Price Target Raised to $465.00

CyberArk Software (NASDAQ:CYBR) had its target price boosted by DA Davidson from $435.00 to $465.00 in a research report report published on Thursday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Several other analysts have also commented on the stock. Canaccord Genuity Group lifted their price target on shares of CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price target on shares of CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird boosted their price target on shares of CyberArk Software from $450.00 to $460.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Barclays reiterated an “overweight” rating on shares of CyberArk Software in a research note on Tuesday, May 13th. Finally, Truist Financial lowered their target price on shares of CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $416.79.

CyberArk Software Stock Down 1.4%

NASDAQ:CYBR opened at $386.69 on Thursday. CyberArk Software has a 52 week low of $230.00 and a 52 week high of $421.00. The stock has a market capitalization of $19.11 billion, a PE ratio of -198.30 and a beta of 0.99. The stock’s 50-day moving average price is $361.27 and its 200-day moving average price is $351.94.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The company had revenue of $317.60 million for the quarter, compared to analysts’ expectations of $305.57 million. During the same period in the previous year, the firm posted $0.75 EPS. CyberArk Software’s revenue was up 43.3% compared to the same quarter last year. Sell-side analysts expect that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC raised its holdings in shares of CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of CyberArk Software by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company’s stock valued at $26,000 after buying an additional 39 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in shares of CyberArk Software by 135.3% in the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company’s stock valued at $33,000 after buying an additional 80 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of CyberArk Software in the first quarter valued at about $34,000. 91.84% of the stock is owned by hedge funds and other 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.