Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by Wells Fargo & Company from $425.00 to $500.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently weighed in on CYBR. Robert W. Baird raised their price objective on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a report on Monday, January 27th. Citigroup lifted their price target on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Needham & Company LLC lifted their price target on CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Finally, KeyCorp lifted their price target on CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.67.

CyberArk Software Trading Down 0.2 %

CYBR stock opened at $413.31 on Friday. The stock has a market cap of $18.01 billion, a PE ratio of 1,530.83 and a beta of 1.15. The stock has a 50-day moving average price of $346.11 and a two-hundred day moving average price of $306.73. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $419.49.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. On average, analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in shares of CyberArk Software by 79.1% during the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares during the last quarter. CenterBook Partners LP grew its stake in shares of CyberArk Software by 2.4% during the fourth quarter. CenterBook Partners LP now owns 1,603 shares of the technology company’s stock worth $534,000 after buying an additional 38 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of CyberArk Software by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after buying an additional 42 shares during the last quarter. Montag A & Associates Inc. grew its stake in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after buying an additional 42 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after buying an additional 45 shares during the last quarter. 91.84% of the stock is owned by 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.