JPMorgan Chase & Co. Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price increased by JPMorgan Chase & Co. from $375.00 to $431.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently commented on CYBR. Oppenheimer increased their price target on CyberArk Software from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Robert W. Baird increased 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. Citigroup increased their price objective on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada increased their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group increased their price objective on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $373.96.

CyberArk Software Trading Down 2.1 %

Shares of CYBR opened at $381.81 on Tuesday. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 1,414.16 and a beta of 1.15. The stock has a 50 day moving average of $342.18 and a 200 day moving average of $304.57. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $394.31.

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

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. HighTower Advisors LLC raised its position in 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 purchasing an additional 2,062 shares in the last quarter. Groupama Asset Managment raised its position in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares in the last quarter. Jennison Associates LLC raised its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in CyberArk Software during the third quarter valued at about $8,612,000. Finally, International Assets Investment Management LLC purchased a new stake in CyberArk Software during the third quarter valued at about $82,485,000. Institutional investors 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.