Piper Sandler Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price boosted by analysts at Piper Sandler from $345.00 to $380.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price indicates a potential upside of 10.50% from the stock’s previous close.

Several other brokerages have also issued reports on CYBR. Morgan Stanley reaffirmed an “equal weight” rating and set a $316.00 price objective on shares of CyberArk Software in a report on Tuesday, December 31st. DA Davidson raised their price target on CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Mizuho boosted their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada raised their target price on shares of CyberArk Software from $358.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus upped their price target on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $346.52.

CyberArk Software Stock Down 0.6 %

CYBR stock opened at $343.90 on Monday. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 1,273.75 and a beta of 1.13. CyberArk Software has a fifty-two week low of $213.05 and a fifty-two week high of $348.29. The business has a 50 day moving average price of $313.09 and a 200 day moving average price of $288.05.

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

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its stake in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the period. Transcendent Capital Group LLC purchased a new position in CyberArk Software in the third quarter valued at about $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CyberArk Software during the 3rd quarter valued at approximately $87,000. Centaurus Financial Inc. acquired a new stake in shares of CyberArk Software during the 2nd quarter valued at approximately $109,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $129,000. 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.