CyberArk Software (NASDAQ:CYBR) Price Target Raised to $400.00

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by KeyCorp from $355.00 to $400.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company upped their price target on CyberArk Software from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Scotiabank initiated coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Canaccord Genuity Group increased their target price on CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC lifted their price target on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Finally, Stifel Nicolaus increased their price objective on CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $358.74.

CyberArk Software Price Performance

CYBR stock opened at $358.93 on Tuesday. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $364.18. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 1,329.42 and a beta of 1.13. The company has a fifty day moving average price of $327.68 and a 200 day moving average price of $294.66.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of CyberArk Software by 506.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock worth $1,795,000 after acquiring an additional 5,483 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in CyberArk Software by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,868 shares of the technology company’s stock valued at $783,000 after purchasing an additional 399 shares in the last quarter. Sei Investments Co. raised its position in CyberArk Software by 6.1% in the second quarter. Sei Investments Co. now owns 105,583 shares of the technology company’s stock valued at $28,868,000 after purchasing an additional 6,113 shares during the period. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software during the second quarter worth about $711,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of CyberArk Software by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 17,794 shares of the technology company’s stock worth $4,865,000 after purchasing an additional 1,232 shares in the last quarter. Institutional investors and hedge funds 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.