CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

CYBR has been the topic of several other research reports. KeyCorp lifted their target price on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho boosted their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC boosted their price objective on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. UBS Group boosted their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada boosted their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and an average price target of $401.67.

CyberArk Software Stock Performance

CyberArk Software stock opened at $413.31 on Friday. The company has a 50 day moving average price of $347.91 and a 200 day moving average price of $308.53. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $419.49. The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 1,530.83 and a beta of 1.15.

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

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of CyberArk Software during the fourth quarter worth approximately $25,000. TD Private Client Wealth LLC raised 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. Assetmark Inc. raised its stake in shares of CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software during the fourth quarter worth approximately $39,000. Finally, Graney & King LLC bought a new stake in shares of CyberArk Software during the fourth quarter worth approximately $43,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.