CyberArk Software (NASDAQ:CYBR) Price Target Raised to $450.00

CyberArk Software (NASDAQ:CYBR) had its price objective increased by Barclays from $375.00 to $450.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. Piper Sandler raised their price target on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Scotiabank lifted their price objective on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Citigroup increased their target price on shares of CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $401.67.

CyberArk Software Trading Down 0.2 %

CYBR opened at $413.31 on Friday. The stock’s 50-day moving average price is $347.91 and its 200 day moving average price is $308.53. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $419.49. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 1,530.83 and a beta of 1.15.

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

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its position in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares in the last quarter. First Trust Advisors LP raised its position in shares of CyberArk Software by 2.3% during the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after purchasing an additional 20,832 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in CyberArk Software by 8.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after buying an additional 68,359 shares in the last quarter. Finally, Norges Bank purchased a new stake in CyberArk Software in the 4th quarter valued at approximately $203,375,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.