CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price objective upped by investment analysts at Wells Fargo & Company from $350.00 to $410.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 20.78% from the stock’s current price.

Several other research firms have also recently issued reports on CYBR. Scotiabank started coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. Royal Bank of Canada increased their price target on CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JMP Securities boosted their price objective on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Jefferies Financial Group upped their price objective on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Barclays lifted their target price on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.22.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $339.47 on Thursday. The firm has a market capitalization of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13. CyberArk Software has a one year low of $209.50 and a one year high of $348.02. The company has a 50-day simple moving average of $311.92 and a 200-day simple moving average of $286.97.

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

Institutional Trading of CyberArk Software

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