CyberArk Software (NASDAQ:CYBR) Price Target Raised to $420.00

CyberArk Software (NASDAQ:CYBR) had its target price increased by Oppenheimer from $360.00 to $420.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

CYBR has been the subject of several other research reports. Rosenblatt Securities increased their price objective on shares of CyberArk Software from $345.00 to $415.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Scotiabank increased their price objective on shares of CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. KeyCorp increased their price objective on shares of CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Morgan Stanley reissued an “equal weight” rating and set a $316.00 price objective on shares of CyberArk Software in a research report on Tuesday, December 31st. Finally, Mizuho increased their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $371.89.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $384.29 on Wednesday. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $391.45. The company has a market capitalization of $16.74 billion, a PE ratio of 1,423.35 and a beta of 1.15. The company has a 50 day moving average price of $339.55 and a two-hundred day moving average price of $302.21.

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

Institutional Trading of CyberArk Software

Large investors have recently added to or reduced their stakes in the company. Nepsis Inc. lifted its stake in shares of CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after buying an additional 505,088 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after buying an additional 391,900 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CyberArk Software by 195.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after buying an additional 336,462 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software during the 3rd quarter worth about $82,485,000. Finally, Swedbank AB lifted its stake in shares of CyberArk Software by 19.0% during the 4th quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after buying an additional 87,201 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.