CyberArk Software (NASDAQ:CYBR) Given New $465.00 Price Target at DA Davidson

CyberArk Software (NASDAQ:CYBR) had its price target increased by DA Davidson from $435.00 to $465.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also recently issued reports on CYBR. Stephens initiated coverage on shares of CyberArk Software in a research note on Tuesday, April 1st. They set an “overweight” rating and a $440.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and set a $455.00 price target on shares of CyberArk Software in a research report on Tuesday, February 25th. Barclays reaffirmed an “overweight” rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $445.00 price target on shares of CyberArk Software in a research report on Tuesday, May 13th. Finally, Truist Financial decreased their price target on shares of CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $416.79.

CyberArk Software Stock Down 0.9%

Shares of NASDAQ CYBR opened at $392.12 on Thursday. CyberArk Software has a 52-week low of $230.00 and a 52-week high of $421.00. The firm has a fifty day moving average of $358.12 and a 200-day moving average of $351.07. The stock has a market capitalization of $19.38 billion, a PE ratio of -201.09 and a beta of 0.99.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. The company had revenue of $317.60 million during the quarter, compared to analysts’ expectations of $305.57 million. During the same period in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was up 43.3% compared to the same quarter last year. Equities research analysts expect that CyberArk Software will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp grew its position in CyberArk Software by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock worth $5,953,000 after purchasing an additional 1,035 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in CyberArk Software in the 4th quarter worth about $218,000. Envestnet Portfolio Solutions Inc. grew its position in CyberArk Software by 16.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,274 shares of the technology company’s stock worth $1,091,000 after purchasing an additional 471 shares during the last quarter. Raymond James Financial Inc. bought a new position in CyberArk Software in the 4th quarter worth about $18,106,000. Finally, Balyasny Asset Management L.P. grew its position in CyberArk Software by 60.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 151,720 shares of the technology company’s stock worth $50,546,000 after purchasing an additional 56,937 shares during the last quarter. 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.