CyberArk Software (NASDAQ:CYBR) Given New $315.00 Price Target at Barclays

CyberArk Software (NASDAQ:CYBR) had its price target boosted by Barclays from $280.00 to $315.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Bank of America reaffirmed a buy rating and set a $315.00 target price on shares of CyberArk Software in a research report on Wednesday, April 24th. Needham & Company LLC reiterated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Monday, May 20th. BTIG Research began coverage on shares of CyberArk Software in a research note on Thursday, March 28th. They set a buy rating and a $317.00 price objective on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $300.00 price objective on shares of CyberArk Software in a research note on Friday, June 21st. Finally, Wedbush reiterated an outperform rating and set a $285.00 price objective on shares of CyberArk Software in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, CyberArk Software presently has a consensus rating of Moderate Buy and a consensus target price of $280.63.

CyberArk Software Price Performance

CyberArk Software stock opened at $269.91 on Thursday. CyberArk Software has a 1-year low of $142.92 and a 1-year high of $283.00. The firm has a market capitalization of $11.41 billion, a P/E ratio of -421.73 and a beta of 1.14. The company’s 50-day moving average is $250.38 and its 200 day moving average is $247.81.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.67. The business had revenue of $221.55 million for the quarter, compared to analyst estimates of $213.42 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. Research analysts anticipate that CyberArk Software will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in CYBR. Montag A & Associates Inc. purchased a new position in shares of CyberArk Software during the first quarter worth $27,000. Mather Group LLC. purchased a new position in shares of CyberArk Software during the second quarter worth $27,000. Arcadia Investment Management Corp MI purchased a new position in shares of CyberArk Software during the first quarter worth $34,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of CyberArk Software during the first quarter worth $34,000. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of CyberArk Software during the fourth quarter worth $34,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.